UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13
OR 15(d) of
The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): August 18, 2023
UNITED BANCORP, INC.
(Exact name of registrant as specified in its charter)
Ohio | 0-16540 | 34-1405357 |
(State or other jurisdiction | (Commission | (IRS Employer |
of incorporation) | File Number) | Identification No.) |
201 South 4th Street, Martins Ferry, Ohio | 43935-0010 |
(Address of principal executive offices) | (Zip Code) |
Registrant’s telephone number, including area code: (740) 633-0445
(Former name or former address, if changed since last report.)
Securities registered pursuant to Section 12(b) of the Act:
Title of each class |
Trading Symbol(s) |
Name of each exchange on which registered |
||
Common Stock, Par Value $1.00 | UBCP | NASDAQ Capital Market |
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
¨ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
¨ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
¨ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
¨ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ¨
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨
Item 8.01. | Other Events. |
On August 21, 2023, United Bancorp, Inc. issued a press release announcing the declaration by its Board of Directors on August 18, 2023 of the Company’s dividend for the third quarter of 2023, which will be payable on September 20, 2023 to shareholders of record on September 8, 2023. A copy of the press release is furnished herewith.
Item 9.01. | Financial Statements and Exhibits. |
(d) Exhibits
The following exhibits are furnished herewith:
Exhibit Number |
Exhibit Description |
99 | Registrant’s press release dated August 21, 2023 |
104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |
Signatures
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Dated: August 21, 2023 | United Bancorp, Inc. |
/s/ Scott A. Everson | |
Scott A. Everson, Chief Executive Officer |
EXHIBIT 99
PRESS RELEASE
United Bancorp, Inc.
201 South 4th at Hickory Street, Martins Ferry, OH 43935
Contact: | Scott A. Everson | Randall M. Greenwood |
President and CEO | Senior Vice President, CFO and Treasurer | |
Phone: | (740) 633-0445 Ext. 6154 | (740) 633-0445 Ext. 6181 |
ceo@unitedbancorp.com | cfo@unitedbancorp.com |
FOR IMMEDIATE RELEASE: 11:00 AM August 21, 2023
Subject: | United Bancorp, Inc. Increases its Third Quarter Cash Dividend Payment to $0.1675 per Share, which produces a Forward Yield of 5.6%. |
MARTINS FERRY, OHIO ¨¨¨ On August 18, 2023, the Board of Directors of United Bancorp, Inc. (UBCP) declared a third quarter dividend payment of $0.1675 per share for shareholders of record on September 8, 2023 with a payment date of September 20, 2023. This is an increase of $0.01, or 6.3%, over the regular cash dividend paid in the third quarter of the previous year. In addition, this payment is greater than the regular cash dividends paid in the first and second quarters of the current year, which were $0.1625 and $0.1650 respectively. With this third quarter dividend payment and year-to-date, UBCP has paid total cash dividends of $0.6450 (inclusive of a special cash dividend of $0.15 paid in the first quarter), which is an increase of $0.03, or 5.0%, over the amount paid during the same period the previous year. At the third quarter payment level, the regular cash dividend produces a forward yield of 5.6% based on UBCP’s market value of $11.97 at the most recent quarter-end.
United Bancorp, Inc. is headquartered in Martins Ferry, Ohio and has total assets of $830.3 million and total shareholder’s equity of $58.4 million as of June 30, 2023. Through its single bank charter, Unified Bank, the Company has eighteen banking offices 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.