United Community Banks restore dividend
United Community Banks has restored its dividend.
The state’s third-largest banking company will pay three cents a share to shareholders of record as of June 16. The Blairsville bank was paying nine cents a share in 2008.
In January, it redeemed $180 million of stock issued through the Troubled Asset Relief Program. The bank also recently ended a memorandum of understanding with regulators that limited its actions.
“I am very pleased that we are able to restore our quarterly cash dividend,” president and CEO Jimmy Tallent said in a statement. “We understand the importance of cash dividends to many of our shareholders and we are delighted to be able to reward them for their years of trust and confidence.”
About the Author
Arielle Kass covers Gwinnett County for The Atlanta Journal-Constitution. She started at the paper in 2010, and has covered business and local government beats around metro Atlanta. Arielle is a graduate of Emory University.
