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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): April 17, 2024
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 April 18, 2024, United Bancorp, Inc. issued a press release announcing the declaration by its Board of Directors on April 17, 2024 of the Company’s dividend for the second quarter of 2024 which will be payable on June 20, 2024 to shareholders of record on June 10, 2024. 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 April 18, 2024 |
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: April 18, 2024 | United Bancorp, Inc. | ||
| /s/ Scott A. Everson | |||
| Scott A. Everson, Chief Executive Officer |
EXHIBIT 99
PRESS RELEASE
United Bancorp, Inc.
Martins Ferry, Ohio
Contacts:
Scott A. Everson, President and CEO, ceo@unitedbancorp.com
Randall M. Greenwood, Senior Vice President and CFO, cfo@unitedbancorp.com
| United Bancorp, Inc. Increases its Second Quarter Cash Dividend Payment to $0.1750 per | ||
| Share, which produces a Forward Yield of 4.84%, and Reports on Annual Shareholder | ||
| Meeting. | ||
MARTINS FERRY, OHIO ¨¨¨ On April 17, 2024, the Board of Directors of United Bancorp, Inc. (UBCP) declared a second quarter dividend payment of $0.1750 per share for shareholders of record on June 10, 2024 with a payment date of June 20, 2024. This is an increase of $0.01, or 6.1%, over the regular cash dividend paid in the second quarter of last year. In the first two quarters of the current year, UBCP has paid total cash dividends of $0.4975 (inclusive of a special cash dividend of $0.15 paid in the first quarter). At the second quarter payment level, the regular cash dividend produces a forward yield of 4.84% based on UBCP’s market value of $14.47 at the most recent quarter-end.
Scott A. Everson, President and CEO announced at the annual meeting held that date, the Shareholders of UBCP elected Directors for the following year including himself; Gary W. Glessner, CPA and Managing Member of Glessner and Associates, PLLC, Wheeling, West Virginia; Brian M. Hendershot, President, Ohio-West Virginia Excavating, Shadyside, Ohio; John M. Hoopingarner, Of Counsel, McMahon, DeGulis LLP, Columbus, Cleveland and Cincinnati, Ohio; Richard L. Riesbeck, Chairman of the UBCP Board of Directors and President, Riesbeck Food Markets, Inc., St. Clairsville, Ohio and Bethany E. Schunn, Plant Manager, Cardinal Operating Company, Brilliant, Ohio.
United Bancorp, Inc. is headquartered in Martins Ferry, Ohio and has total assets of $819.4 million and total shareholder’s equity of $63.6 million as of December 31, 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.