Union First Market Bankshares Declares Quarterly Cash Dividend

Nov 01, 2013, 09:23 ET from Union First Market Bankshares Corporation

RICHMOND, Va., Nov. 1, 2013 /PRNewswire/ -- Union First Market Bankshares Corporation has declared a quarterly dividend of $0.14 per share.  The dividend amount is the same as the previous quarterly dividend rate and is a $0.02, or 17%, increase over the dividend rate for the same quarter last year.

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Third quarter reported net income was $7.9 million or $0.32 per fully diluted share, and includes after tax expenses of $471,000 related to the acquisition of StellarOne Corporation, compared to $9.5 million or $0.38 per share in the second quarter and $9.6 million or $0.37 per share in the third quarter last year.

Based on the stock's closing price of $24.12 on October 31, 2013, the dividend yield is approximately 2.3%.  The dividend is payable on November 29, 2013 to shareholders of record as of November 15, 2013.

Headquartered in Richmond, Virginia, Union First Market Bankshares Corporation (NASDAQ: UBSH) is the holding company for Union First Market Bank, which has 90 branches and more than 150 ATMs throughout Virginia.  Non-bank affiliates of the holding company include: Union Investment Services, Inc., which provides full brokerage services; Union Mortgage Group, Inc., which provides a full line of mortgage products; and Union Insurance Group, LLC, which offers various lines of insurance products.  Union First Market Bank also owns a non-controlling interest in Johnson Mortgage Company, L.L.C. 

Additional information on the Company is available at http://investors.bankatunion.com


SOURCE Union First Market Bankshares Corporation