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UNITED BANKSHARES INCREASES DIVIDEND United Bankshares, Inc. (UBSI) declared a third quarter dividend of 19¢ per share for shareholders of record as of September 11, 1998. This is a 12% increase over the 17¢ paid in the third quarter of 1997. Dividends per share of 55¢ for the first three quarters of 1998 represent a 10% increase over the 50¢ per share paid for the first three quarters of 1997. The dividend payout of approximately $7.4 million on thirty-nine million shares is payable October 1, 1998. The year 1998 will be the 25th consecutive year of dividend increases. The annualized 1998 dividend of 76¢ equates to a yield of approximately 3% based on recent UBSI market prices. United Bankshares stock is traded on the NASDAQ (National Association of Securities Dealers Quotation System) National Market System under the quotation symbol "UBSI". August 26, 1998 |
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