United Bancshares (NASDAQ:UBSI) announced yesterday its second-quarter dividend of $0.31 per share, the same rate it's paid for the last six quarters.

The board of directors said the quarterly dividend is payable on July 1 to the holders of record at the close of business on June 14. The bank has raised the payout every year for the past 39 years.

The regular dividend payment equates to a $1.24-per-share annual dividend, yielding 4.7% based on the closing price of United Bancshares' stock on May 21.

UBSI Dividend Chart

UBSI Dividend data by YCharts

This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium advisory service. We’re motley! Questioning an investing thesis -- even one of our own -- helps us all think critically about investing and make decisions that help us become smarter, happier, and richer.