University Bancorp Inc. announced that its board of directors has declared the company's first dividend to its common shareholders, in the amount of $0.107 per share, a payment of approximately $546,000 in total on the 5,102,844 shares currently outstanding. The ex-dividend date will be as of the close of business on February 1, 2016, the record date will be close of business, February 3, 2016 and the payable date will be February 10, 2016.