8-K
UNITED BANCORP INC /OH/ (UBCP)
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13OR 15(d)
of The Securities ExchangeAct of 1934
Date of Report (Date of earliest event reported): August 21, 2024
UNITED BANCORP, INC.
(Exact name of registrant as specified in its charter)
| Ohio | 0-16540 | 34-1405357 |
|---|---|---|
| (State<br> or other jurisdiction | (Commission | (IRS<br> Employer |
| of<br> incorporation) | File<br> Number) | Identification<br> No.) |
| 201 South 4th Street, Martins Ferry, Ohio | 43935-0010 | |
| --- | --- | |
| (Address<br> of principal executive offices) | (Zip<br> 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<br>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 August 22, 2024, United Bancorp, Inc. issued a press release announcing the declaration by its Board of Directors on August 21, 2024 of the Company’s dividend for the third quarter of 2024, which will be payable on September 20, 2024 to shareholders of record on September 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 August 22, 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: August 22, 2024 | United Bancorp, Inc. |
|---|---|
| /s/ Scott A. Everson | |
| Scott A. Everson, | |
| Chief Executive Officer |
EXHIBIT 99
PRESSRELEASE
United Bancorp, Inc.
201 South 4th at Hickory Street, Martins Ferry, OH 43935
| Contact: | Scott A. Everson | Randall M. Greenwood |
|---|---|---|
| President and CEO | Senior Vice President, CFO and Treasurer | |
| Phone: | (740) 633-0445 Ext. 6154 | (740) 633-0445 Ext. 6181 |
| ceo@unitedbancorp.com | cfo@unitedbancorp.com |
FOR IMMEDIATE RELEASE: 11:00 AM August 22, 2024
| Subject: | United Bancorp, Inc. Increases its Third Quarter Cash Dividend Payment to $0.1775 per Share, which produces a Forward Yield of 5.7%. |
|---|
MARTINS FERRY, OHIO ¨¨¨ On August 21, 2024, the Board of Directors of United Bancorp, Inc. (UBCP) declared a third quarter dividend payment of $0.1775 per share for shareholders of record on September 10, 2024 with a payment date of September 20, 2024. This is an increase of $0.01, or 6.0%, over the regular cash dividend paid in the third quarter of the previous year. In addition, this payment is greater than the regular cash dividends paid in the first and second quarters of the current year, which were $0.1725 and $0.1750 respectively. With this third quarter dividend payment and year-to-date, UBCP has paid total cash dividends of $0.6750 (inclusive of a special cash dividend of $0.15 paid in the first quarter), which is an increase of $0.03, or 4.7%, over the amount paid during the same period last year. At the third quarter payment level, the regular cash dividend produces a forward yield of 5.7% based on UBCP’s market value of $12.55 at the most recent quarter-end.
United Bancorp, Inc. is headquartered in Martins Ferry, Ohio and has total assets of $821.8 million and total shareholder’s equity of $60.6 million as of June 30, 2024. 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.