United Security Bancshares Declares Stock Dividend
Jun 24, 2015, 01:30 ET
FRESNO, Calif., June 24, 2015 /PRNewswire/ -- Dennis R. Woods, President and Chief Executive Officer of United Security Bancshares (http://www.unitedsecuritybank.com/) (Nasdaq: UBFO), reported that the Board of Directors of United Security Bancshares declared a 2nd quarter 2015 stock dividend of one percent (1%) on June 23, 2015. The stock dividend will be paid to shareholders of record on July 6, 2015 and the dividend shares will be issued on July 17, 2015.
This marks the 27th consecutive quarterly stock dividend since initiated in 2008. Capital preservation remains a significant focus of the Bank's Directors in consideration of the Basel III capital standards adopted. Stock dividends preserve capital, where as cash dividends reduce capital.
SOURCE United Security Bancshares
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