United Tennessee Bankshares, Inc. announces dividend
Published: 2:46 PM, 02/20/2010
Last updated: 2:50 PM, 02/20/2010
Source: The Newport Plain Talk
United Tennessee Bankshares, Inc. (OTC Bulletin Board: UNTN)
the holding company for Newport Federal Bank Board of Directors declared an
annual cash dividend of $0.48 per share on United Tennessee Bankshares Stock.
This is a 2.1% increase in dividend from the previous year and the eighth
consecutive year in which the dividend has been increased. The dividend is
payable April 30, 2010, to shareholders of record as of April 1, 2010.
As previously reported, United Tennessee Bankshares reported
net income for the year ended December 31, 2009 has increased 3.3% from last
year's income to $1,082,000. The Board of Directors is pleased to provide our
shareholders an increased dividend during a time when many banks are reducing
or eliminating dividends. United Tennessee Bankshares continues to provide
lending to our local community and has also increased its net income during
these distressed economic times for financial institutions.
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