MARTINS FERRY, OH / ACCESSWIRE / February 21, 2023 / On February 20, 2024, the Board of Directors of United Bancorp, Inc. (UBCP) declared a first quarter cash dividend of $0.1725, which is payable on March 20, 2024 to shareholders of record on March 8, 2024. This is an increase of $0.01, or 6.2%, over the cash dividend paid in the first quarter of last year. At this new level and on a forward basis, the regular cash dividend is $0.69, which produces a forward yield of 5.4% based on the market value at the most recent quarter-end.

In addition to this regular cash dividend payment, the Board of Directors of United Bancorp, Inc. also approved a one-time, special dividend of $0.15 per common share, which is payable on March 20, 2024 to shareholders of record on March 8, 2024. The Board of Directors approved this special cash dividend based on the Company's continued solid earnings, ample liquidity and strong capital position. On a forward basis and inclusive of this special dividend payment, United Bancorp, Inc. is projected to pay cash dividends of $0.84 in the current year.

United Bancorp, Inc. is headquartered in Martins Ferry, Ohio and has total assets of $819.5 million and total shareholder's equity of $63.7 million as of December 31, 2023. Through its single bank charter, Unified Bank, the Company currently has eighteen banking centers that serve the Ohio Counties of Athens, Belmont, Carroll, Fairfield, Harrison, Jefferson and Tuscarawas and Marshall County in West Virginia. United Bancorp, Inc. trades on the NASDAQ Capital Market tier of the NASDAQ Stock Market under the symbol UBCP, Cusip #909911109.

CONTACT:

Scott A. Everson
President and CEO
Phone: (740) 633-0445 Ext.
ceo@unitedbancorp.com

Randall M. Greenwood
Senior Vice President, CFO and Treasurer
6154 (740) 633-0445 Ext. 6181
cfo@unitedbancorp.com

SOURCE: United Bancorp, Inc. (Ohio)