United Community Banks, Inc. (NYSE:UCB) ("United", the "Company"), reported that its Board of Directors approved a 4% quarterly cash dividend increase to $0.24 per share on the Company's common stock. The dividend is payable October 4, 2024 to shareholders of record as of September 16, 2024.
The Board of Directors authorized an increase in the Company's share repurchase program to $100 million of its outstanding common shares and extended the expiration of the authorization to December 31, 2025. The shares may be repurchased periodically in open market transactions at prevailing market prices, in privately negotiated transactions, or by other means in accordance with federal securities laws, and the program may be modified, suspended, or discontinued at any time without notice. The actual timing, number, and value of shares repurchased under the program will be determined by management at its discretion and will depend on a number of factors, including the market price of United's stock, general market and economic conditions, and applicable legal requirements.