United Bankshares declares dividend

CHARLESTON -- United Bankshares Inc. announces that its Board of Directors declared a third quarter dividend of 29 cents per share for shareholders of record as of Sept. 12.

The third quarter dividend of 29 cents per share represents a 4 percent increase over the 28 cents paid in the third quarter of 2007. Dividends per share of 87 cents for the first three quarters of 2008 also represents a 4 percent increase over the 84 cents per share paid for the first three quarters of 2007.

The dividend payout of approximately $12.6 million on 43.3 million shares is payable Oct. 1. The year 2008 is expected to be the 35th consecutive year of dividend increases to United shareholders. The annualized 2008 dividend of $1.16 equates to a yield of approximately 5 percent based on recent UBSI market prices.

W.Va. housing market grows 2.5 percent

CHARLESTON -- As home prices plummet across the country, West Virginia's housing market is growing.

The Office of Federal Housing Enterprise Oversight index reports home prices across the state grew nearly 2.5 percent during the first three months of the year, compared to the same period last year.

According to the West Virginia Association of Realtors, the average sale price of a home is up about $3,000 over last year to $120,320.

Director Ray Joseph says two markets have cooled in the past year: homes in the Eastern Panhandle and the second-homes market in Greenbrier and Pocahontas counties.

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Information from: The Charleston Gazette, http://www.wvgazette.com