Cash Dividend Increased by 22.2% at United Security Bancshares
March 01 2006 - 1:46PM
PR Newswire (US)
70th Consecutive Quarterly Cash Dividend Declared FRESNO, Calif.,
March 1 /PRNewswire-FirstCall/ -- Dennis R. Woods, President and
Chief Executive Officer of United Security Bancshares
(NASDAQ:UBFO), reported that the Board of Directors on February 28,
2006 declared a quarterly cash dividend of $0.22 per share, to
shareholders of record on April 7, 2006 payable on April 19, 2006.
The dividend of $0.22 per share is up $0.04 from the April 2005
quarterly dividend of $0.18, a 22.2% increase. This dividend marks
the 70th consecutive quarterly cash dividend paid to shareholders
since inception. Woods stated, "The Board of Directors raised in
December the dividend to be paid in January 2006 from $0.16 the
previous year to $0.20. The dividend increase of an additional
$0.02 yesterday will continue to provide shareholders with more
than a 20% dividend increase for the remainder of the year." United
Security Bancshares is a $630 + million bank holding company and
United Security Bank, a state banking corporation, is its primary
subsidiary. United Security Bancshares stock is available through
The Siedler Admen Securities Inc., (contact Troy Norlander at
1-800-288-2811), Howe Barnes Investments Inc. (contact Mike Hedrei
at 1-800-800-4693), Hoefer & Arnett (contact Dave Bonaccorso at
1-800 346 5544 ext. 723) or Hill Thompson, Magid & Co. (contact
Jason Biggerstaff 1-800-631-3083) as well as other firms, and
trades under the symbol "UBFO". This press release may include
forward-looking statements that involve inherent risks and
uncertainties. A number of important factors could cause actual
results to differ materially from those in the forward-looking
statements. Those factors include fluctuations in interest rates,
inflation, government regulations, the progress of integrating
acquisitions and economic conditions and competition in the
geographic and business areas in which the Company conducts its
operations. The Company undertakes no obligation to revise or
update these forward-looking statements. DATASOURCE: United
Security Bancshares CONTACT: Dennis Woods of United Security
Bancshares, +1-559-248-4928 Web site:
http://www.unitedsecuritybank.com/
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