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.


Fool contributor Rich Duprey has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.