Local bank board votes to increase its dividend payment

The last remaining locally owned bank in Grady County is preparing to pay an increased dividend to its shareholders next month.
The board of directors of United National Bank has approved a dividend payment of $1.35 per share to stockholders of record as of June 1, 2018. The payment will be made June 15, 2018.
“This is a 10 cents per share increase. It is with great pleasure and satisfaction that our stockholders, who believed in us and invested in the bank, are able to receive a return on their investment. For the past 15 years, we are proud to say that we have been able to give back to our community through the issuance of dividends,” UNB President Michael L. Chastain said this week.
According to Chastain, the bank has paid over $8.6 million in dividends to its shareholders since the bank was organized in May 2000.
“Our ability to  pay dividends is a testament to the bank’s financial strength. UNB is strong and profitable because of our wonderful customers and our dedicated, professional staff. We appreciate the community’s support and, in turn, we invest in our community, customers and staff,” said Chairman of the Board Charles M. Stafford.
In addition to paying dividends to stockholders, the bank also contributes to local schools, clubs and civic organizations annually.
“We are truly a community oriented bank and our focus is on improving the quality of life for all citizens of Grady County,” Chairman Stafford added.
United National Bank ended 2017 with total assets of $218,612,000. The bank opened its doors on May 26, 2000, with $5 million in total assets and now that total has grown by over $213,000,000.

Leave a Comment