Union Bankshares (NASDAQ) Sets $0.36 Dividend

July 23, 2024: The Board of Directors of Union Bankshares, Inc. (NASDAQ: UNB) announced a regular quarterly cash dividend of $0.36 per share on its common stock. This determination maintains the company’s consistent dividend history.

Shareholders of record as of the close of business on July 29, 2023, will be entitled to receive the dividend, which will be disbursed on August 1, 2023. Based on the most recent closing share price, the current dividend translates to an annualized yield of approximately 5.8%.

This announcement underscores Union Bankshares’ commitment to rewarding its shareholders through consistent dividend payouts. The company’s dividend history exhibits stability, with a compound annual growth rate (CAGR) of roughly 3.3% over the past ten years. This trend suggests a commitment to providing shareholders with a predictable stream of income.

Financial markets positively reacted to the news. Analysts acknowledge the attractive dividend yield, particularly in the current economic climate. Union Bankshares’ dividend stands out as it surpasses the average yield within the banking industry.

The Board of Directors will continue to assess the company’s financial performance and capital allocation strategy. Future dividend declarations will consider these factors alongside overall business conditions.

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