1st United Initiates First Quarterly Dividend

Boca Raton, Fla.-based 1st United Bancorp (NASDAQ: FUBC  )  announced yesterday that its board of directors has declared their first quarterly cash dividend, of $0.01 per share on shares of its common stock.

The payout will be made on May 8 to shareholders of record as of the close of business on May 2.

1st United is a Florida-chartered commercial bank operating 22 branches in south and central Florida. As of Dec. 31, 2012, it had $1.56 billion in assets. Its shares closed Monday at $6.14, down 2% from Friday. The 52-week high was $6.83 on Oct. 17 and it hit its 52-week low of $5.30 the following month on Nov. 15.

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