ATMORE, Ala., Jan. 6, 2021 /PRNewswire/ -- United Bancorporation of Alabama Inc. (OTCQX: UBAB) (the "Company"), parent company of United Bank and UB Community Development, today announced its Board of Directors declared a $0.10 cash dividend with a special $0.05 per share dividend for a total cash dividend of $0.15 per share. The dividend will be paid on or about January 15, 2021 to shareholders of record as of December 31, 2020. The semiannual dividend of $0.13 per share paid in January 2020 compared to the $0.15 per share paid in January 2021 is a 15.38 % increase.
"We are very pleased to announce this dividend, rewarding our investors for their continued commitment to the Company. This dividend represents a legacy of consistent dividend payout since 1983," said United Bancorporation of Alabama Inc. President and Chief Executive Officer Robert R. Jones, III. "Despite the challenging year, the Company's organic growth in existing and expanding markets continues to yield strong financial performance."
Cautionary Statement Regarding Forward-Looking Statements
This press release contains, among other things, certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including, without limitation, (i) statements regarding certain of the Company's goals and expectations with respect to private placement and (ii) statements preceded by, followed by, or that include the words "may," "could," "should," "would," "believe," "anticipate," "estimate," "expect," "intend," "plan," "projects," "outlook," or similar expressions. These statements are based upon the current belief and expectations of the Company's management team and are subject to significant risks and are subject to change based on the various factors (many of which are beyond the Company's control). Although the Company believes that the assumptions underlying the forward-looking statements are reasonable, any of the assumptions could prove to be inaccurate. Therefore, the Company can give no assurance that the results contemplated in the forward-looking statements will be realized. The inclusion of this forward-looking information should not be construed as a representation by the Company or any person that the future events, plans, or expectations contemplated by the Company will be achieved. All subsequent written and oral forward-looking statements attributable to the Company or any person acting on its behalf are expressly qualified in their entirety by the cautionary statements above. The Company does not undertake any obligation to update any forward-looking statement to reflect circumstances or events that occur after the date the forward-looking statements are made, except as required by law.
SOURCE United Bancorporation