United Community Banks (UCBI) Raises Quarterly Dividend 6.7% to $0.16, 2.5% Yield; Boosts Share Buyback Authorization to $50M

United Community Banks (NASDAQ: UCBI) declared a quarterly dividend of $0.16 per share, or $0.64 annualized. This is a 6.7% increase from the prior dividend of $0.15.

The dividend will be payable on January 7, 2019, to stockholders of record on December 15, 2018, with an ex-dividend date of December 13, 2018.

The annual yield on the dividend is 2.5 percent.

For a dividend history and other dividend-related data on United Community Banks (UCBI) click here.

SHARE BUYBACK INCREASE

The Board of Directors also authorized an increase in the Company’s repurchase program to $50 million of its outstanding common shares that may be acquired through December 31, 2019. The shares may be repurchased periodically in open market transactions at prevailing market prices, in privately negotiated transactions, or by other means in accordance with federal securities laws, and the program may be suspended or discontinued at any time without notice. The actual timing, number and value of shares repurchased under the program will be determined by management at its discretion and will depend on a number of factors, including the market price of United’s stock, general market and economic conditions, and applicable legal requirements. Repurchased shares will become treasury shares and may be utilized for general corporate purposes.

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