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.”
