Cash Dividend Increased by 10.3% at United Security Bancshares
31 December 2004 - 10:23AM
PR Newswire (US)
Cash Dividend Increased by 10.3% at United Security Bancshares 65th
Consecutive Quarterly Cash Dividend Declared FRESNO, Calif., Dec.
30 /PRNewswire-FirstCall/ -- Dennis R. Woods, President and Chief
Executive Officer of United Security Bancshares (NASDAQ:UBFO),
reported that the Board of Directors on December 28, 2004 declared
a quarterly cash dividend of $0.16 per share, to shareholders of
record on January 7, 2005, payable on January 19, 2005. The
dividend of $0.16 per share is up $0.015 from the January 2004
quarterly dividend of $0.145, a 10.3% increase. This dividend marks
the 65th consecutive quarterly cash dividend paid to shareholders
since inception. Woods added, "The prime lending rate increases
worked to offset much of the added costs of compliance with
Sarbanes-Oxley this year. We believe the Company will continue to
show significant earnings growth in 2005." United Security
Bancshares is a $600 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
1-800-288-2811), 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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