United Bankshares Declares $0.38 Quarterly Dividend, Extends 52-Year Increase Streak
United Bankshares Inc, a West Virginia-based regional bank, declared a quarterly cash dividend of $0.38 per share. The dividend marks the 52nd consecutive year the company has increased its payout to shareholders.
United Bankshares Inc (NASDAQ: UBSI), a regional bank holding company based in West Virginia, declared a quarterly cash dividend of $0.38 per share. The dividend represents a yield of approximately 3.5% based on recent trading prices. Read more dividend announcements.
The payout extends United Bankshares' dividend growth streak to 52 consecutive years, placing the company among a select group of financial institutions with multi-decade records of annual dividend increases. The bank did not disclose record, ex-dividend, or payment dates in its announcement.
Dividend Details
| Item | Details |
|---|---|
| Dividend Amount | $0.38 per share |
| Frequency | Quarterly |
| Indicated Yield | ~3.5% |
| Consecutive Years of Increases | 52 |
| Record Date | Not disclosed |
| Ex-Dividend Date | Not disclosed |
| Payment Date | Not disclosed |
First Quarter Financial Performance
United Bankshares reported first quarter 2026 net income of $124.2 million, or $0.89 per diluted share, down from $128.8 million, or $0.91 per share, in the fourth quarter of 2025. Return on average assets stood at 1.49%, while return on average shareholders' equity reached 9.08%.
Net interest income for the quarter totaled $282.5 million, down $4.9 million from the prior quarter. The net interest margin on a fully taxable equivalent basis held steady at 3.80%. The interest rate spread improved by 2 basis points, primarily due to lower rates paid on interest-bearing deposits, though this was partially offset by lower yields on earning assets.
The bank recorded provision expense of $7.8 million in the first quarter, compared to $6.8 million in the fourth quarter. Noninterest income increased $3.1 million quarter-over-quarter, boosted by $2.3 million in net gains on investment securities and a $1.4 million increase in brokerage service fees.
Noninterest expense rose $1.1 million from the prior quarter, driven by a $3.0 million increase in employee benefits and a $1.1 million rise in FDIC insurance expense. These increases were partially offset by a $1.1 million decrease in data processing costs.
The company's efficiency ratio stood at 48.27% for the quarter. Asset quality remained strong with non-performing assets representing just 0.34% of total assets.
Capital Management
United Bankshares returned $122 million to shareholders during the first quarter through $53 million in common dividends and $69 million in share repurchases. The bank repurchased 1.7 million shares during the quarter. Management described the capital position as robust and liquidity as sound.
Newsweek has consistently ranked United Bankshares among the most trustworthy banks in America, placing it in the top 10 each year including a number one ranking in 2023.