Cash Dividend Increased by 10.3% at United Security Bancshares
September 29 2004 - 9:07PM
PR Newswire (US)
Cash Dividend Increased by 10.3% at United Security Bancshares 64th
Consecutive Quarterly Cash Dividend Declared FRESNO, Calif., Sept.
29 /PRNewswire-FirstCall/ -- Dennis R. Woods, President and Chief
Executive Officer of United Security Bancshares (NASDAQ:UBFO),
reported that the Board of Directors on September 28, 2004 declared
a quarterly cash dividend of $0.16 per share, to shareholders of
record on October 8, 2004, payable on October 20, 2004. The
dividend of $0.16 per share is up $0.015 from the October 2003
quarterly dividend of $0.145, a 10.3% increase. This dividend marks
the 64th consecutive quarterly cash dividend paid to shareholders
since inception. Woods added, "With nearly nine months completed,
earnings continue to look strong for the year. The prime lending
rate has increased 0.75% during this quarter which has resulted in
increased earnings. As a result, earnings are expected to be
strongest in the forth quarter." United Security Bancshares is a
$560 million bank holding company and United Security Bank, a state
banking corporation, is its primary subsidiary. United Security
Banc shares stock is available through The Siedler Admen Securities
Inc., (contact Troy Norlander at 800-288-2811), Hoefer & Arnett
(contact Dave Bonaccorso at 800-346-5544 ext. 723) or Hill
Thompson, Magid & Co. (contact Jason Biggerstaff 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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