Unity Bancorp Announces 8% Increase In Q1 Dividend From $0.12 To $0.13 Per Share

Unity Bancorp, Inc. (NASDAQ:UNTY), parent company of Unity Bank, announced that its Board of Directors has declared a cash dividend of $0.13 per common share. Such dividend is payable on March 29, 2024, to shareholders of record as of March 15, 2024.

 

This represents an 8% increase from the $0.12 dividend per common share paid in the prior quarter.

"We are pleased to announce another increase in our dividend payout, a testament to our robust financial performance and our unwavering commitment to delivering shareholder value. Our confidence in the Company's long-term prospects drives this decision. While maintaining a conservative capital position, we aim to enhance shareholder value through strong earnings, the planned dividend increase, and strategically timed share repurchases." – James A. Hughes, President & CEO of Unity Bank