United Bancorp, Inc. (Ohio) : UBCP-US: Dividend Analysis : June 09th, 2017 (record date) : By the numbers : June 8, 2017

Our analysis is based on comparing United Bancorp, Inc. (Ohio) with the following peers – Civista Bancshares, Inc., SB Financial Group, Inc., Ohio Valley Banc Corp., Peoples Bancorp Inc., WesBanco, Inc., First Financial Bancorp., Huntington Bancshares Incorporated, Park National Corporation and Farmers National Banc Corp. (CIVB-US, SBFG-US, OVBC-US, PEBO-US, WSBC-US, FFBC-US, HBAN-US, PRK-US and FMNB-US).

United Bancorp, Inc. (Ohio)’s dividend yield is 5.09 percent and its dividend payout is 60.56 percent. This compares to a peer median dividend yield of 2.41 percent and a payout level of 44.08 percent. This type of dividend performance might make it a good stock for dividend investors. However, the company’s average dividend quality score of 42 out of a possible score of 100, points to some weakness in the sustainability of its robust payout ratio, and makes its less attractive for dividend investors seeking current income.

Dividend Yield
Dividend Quality Score

Dividend Quality Overview

  • Over the last twelve months (prior to March 31, 2017), UBCP-US paid a low quality dividend, which represents a yield of 3.71% at the current price.
  • Dividend quality trend has not been consistent over the last five years. Dividends were paid during each of these years — of these 2 were high quality and 3 were low quality.
  • The ending cash balance, with a dividend coverage of 1.79x, provides a moderate cushion in case of a significant reduction of cash flows in the future.
Dividend Quality Score Vs Dividend Yield

Quadrant label definitions. Hover to know more

High Score;High Yield, High Score;Low Yield, Low Score;Low Yield, Low Score;High Yield

Dividend Coverage

Over the last twelve months (prior to March 31, 2017), UBCP-US paid a low quality dividend.

The source of the company’s cash to support the dividend paid over the last twelve months is operating cash flow (coverage of 1.57x), investing cash flow (coverage of -11.83x), issuance cash flow (coverage of 10.55x) and twelve-month prior cash (coverage of 2.15x), for a total dividend coverage of 2.79x.

UBCP-US‘s issuance cash flow includes outflows from net debt repayment (coverage of -7.91x).

Dividend Coverage by Cash Flow (TTM)

These coverage ratio factors imply that the firm had to dip into the beginning cash balance to pay the dividend, which suggests a low dividend quality.

Dividend History

Item 2012-12-31 2013-12-31 2014-12-31 2015-12-31 2016-12-31 Latest
Dividend Yield (%) 6.7 3.61 4.09 4.38 3.61 5.09
Dividend Payout (%) 87.5 54.72 62.26 57.81 59.15 60.56

A complete list of metrics and analysis is available on the company page.

Company Profile

United Bancorp, Inc. operates as bank holding company. The company operates through its wholly owned subsidiary, Citizens Savings Bank, which engages in the business of commercial and retail banking in Belmont, Harrison, Jefferson, Tuscarawas, Carroll, Athens, Hocking, and Fairfield counties and the surrounding localities. The bank operates through two divisions: The Community Bank and The Citizens Bank. It provides a broad range of banking and financial services, including accepting demand, savings and time deposits and granting commercial, real estate and consumer loans. United Bancorp was founded on July 3, 1983 and is headquartered in Martins Ferry, OH.


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