1st United Bancorp Announces Special Dividend of $0.10
1st United Bancorp, Inc. ("1st United") (Nasdaq: FUBC), the holding company for 1st United Bank, a Florida chartered commercial bank, announced today that its board of directors has declared a special cash dividend on 1st United common stock of $0.10 per share, payable December 28, 2012, for shareholders of record as of the close of business on December 21, 2012.
Rudy Schupp, Chief Executive Officer of the Company, commented: "With the uncertainty surrounding the federal tax treatment of dividends in the future, we believe that the payment of this special dividend is in the best interests of our shareholders. Given our earnings to date, high capital levels and strong balance sheet, we are in a position to distribute capital to our shareholders, under today's dividend tax rates, without impairing our strategic plan going forward."
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.