BUSINESS BRIEFS
Eastern American Natural Gas Trust announces quarterly distribution
AUSTIN, Texas — Eastern American Natural Gas Trust (NYSE: NGT) announced that its Distribution Amount per Unit for the quarter ended Dec. 31, 2011 will be $.1597 per Depository Unit. Based on the amount of distributable income for the quarter, the trust anticipates that it will make a cash distribution on or before March 15, 2012 of $.1597 per Depository Unit to holders of record as of the close of business on Feb. 29, 2012.
Eastern American Natural Gas Trust is a grantor trust, which presently holds net profit interests in approximately 600 producing gas wells located in West Virginia and Pennsylvania.
United Bankshares declares first quarter dividend
United Bankshares, Inc. announced that its Board of Directors declared a first quarter 2012 dividend of $0.31 per share for shareholders of record as of March 9, 2012.
The dividend payout of approximately $15.6 million on 50.2 million shares is payable April 2, 2012. The annualized 2012 dividend of $1.24 per share equates to a yield over four percent based on recent UBSI market prices. The dividend of $1.21 per share for year of 2011 represented the thirty-eighth consecutive year of dividend increases for United shareholders.
United Bankshares to present at Boston Bank Conference
United Bankshares, Inc. will be presenting at the Keefe, Bruyette & Woods Boston Bank Conference on Thursday, March 1, at 10:25 a.m. at the Langham Hotel, Boston, Mass.
Speaking on behalf of United will be Steven E. Wilson, Executive Vice President and Chief Financial Officer. The presentation will include, among other things, discussions of United’s financial performance, corporate objectives and United’s merger with Centra Financial Holdings, Inc.
The presentation, which is expected to last 40 minutes, may be viewed live by accessing the Investor Relations section of United’s website at http://www.ubsi-inc.com. The archived webcast will be available for 30 days after the event.
United Bankshares, with $8.5 billion in assets, has 126 full-service offices in West Virginia, Virginia, Maryland, Ohio, Washington, D.C and Pennsylvania. United Bankshares stock is traded on the NASDAQ Global Select Market under the quotation symbol “UBSI”.
The presentation may contain certain forward-looking statements, including certain plans, expectations, goals and projections, which are subject to numerous assumptions, risks and uncertainties. Actual results could differ materially from those contained in or implied by such statements for a variety of factors including: changes in economic conditions; movements in interest rates; competitive pressures on product pricing and services; success and timing of business strategies; the nature and extent of governmental actions and reforms; and rapidly changing technology and evolving banking industry standards.
UPS honors West Virginia drivers
CHARLESTON — UPS announced five elite drivers from West Virginia are among 1,235 newly inducted worldwide into the Circle of Honor, an honorary organization for UPS drivers who have achieved 25 or more years of accident-free driving.
West Virginia boasts 25 active Circle of Honor drivers with a combined 707 years of accident-free driving. Joey Jordan of Cross Lanes is West Virginia’s senior safe driver, with 38 years of accident-free driving under his belt. There are 488 total UPS drivers in West Virginia.
Globally, 5,842 active UPS drivers are members of the Circle of Honor. Collectively they’ve racked up 161,746 years and more than 5.3 billion safe miles during their careers, or the equivalent of circling the earth more than 212,000 times.
The number of new inductees represents the largest increase in new members in a single year in the company’s history.
“I’m very proud of these men and women,” said Richard Camejo, president, UPS Mid Atlantic District. “To go at least a quarter century without an accident is a testament to the pride they take in their work and to the training they receive. My thanks go to all of them for the countless lives they’ve saved.”
Globally, the most seasoned UPS Circle of Honor driver is Ron Sowder of UPS’s Ohio Valley District, with 50 years of driving without an accident. Thomas Camp of the Great Lakes District is next in line with 49 years of safe driving. Twenty-seven others have logged at least 40 years without an accident.
UPS’s 102,000 drivers are among the safest on the roads, logging more than 3 billion miles a year and averaging less than one accident for every million miles driven.
UPS invested $175 million in 2011 on safety training and employs its own comprehensive driving course called “Space and Visibility.” All UPS drivers are taught safe driving methods beginning on the first day of classroom training through the company’s defensive driving platform. The training continues throughout their careers.
Founded in 1907, UPS has a rich history of safety and training. The company issued its first driver handbook in 1917 and began recognizing safe drivers in 1923. In 1928, UPS recognized its first five-year safe driver, Ray McCue, with UPS founder Jim Casey presenting him a gold and platinum watch. UPS formally established the Circle of Honor in 1955.
More information on UPS’s commitment to safety is available at http://www.pressroom.ups.com/safety.
UPS (NYSE:UPS) is a global leader in logistics, offering a broad range of solutions including the transportation of packages and freight; the facilitation of international trade, and the deployment of advanced technology to more efficiently manage the world of business. Headquartered in Atlanta, UPS serves more than 220 countries and territories worldwide. The company can be found on the Web at UPS.com and its corporate blog can be found at blog.ups.com. To get UPS news direct, visit pressroom.ups.com/RSS.
