United Bancorp (UBCP) Increases Quarterly Dividend

August 20, 2008 11:06 AM EDT

United Bancorp, Inc. (Nasdaq: UBCP) declared the third quarter dividend payment of $0.14 per share for shareholders of record on September 5, 2008, with a payment date of September 19, 2008, to be paid out of the Company's capital surplus account which is represented on the Company's balance sheets included in its periodic reports filed with the Securities and Exchange Commission as "Additional paid-in capital."

James W. Everson, Chairman, President and CEO stated, "This 7.69% increase in quarterly payment is in keeping with the company's policy of rewarding its shareholders for company performance. UBCP posted an earnings increase on June 30th of 31% over the first half of 2007 and projects 2008 earnings to be $0.80 per share, a 40% increase over last year." Everson concluded, "Our positive earnings is the result of our Board of Directors and Management Team working aggressively together over the past eighteen months implementing the reorganization of our affiliate banks into one charter. We are pleased to see these positive results from the efficiencies gained through the streamlining of our management and operational support positions into one banking charter." [SM]

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