United Bankshares Inc Share Price in India, Check UBSI Stock Performance Today

Depreciation for additions to/deductions from, owned assets is calculated pro rata to the period of use. Capital work-in-progress includes assets not ready for the intended use and is carried at cost, comprising direct cost and related incidental expenses. Investment properties are properties held to earn rentals and/or capital appreciation and are measured and reported at cost, including transaction costs.

The estimated useful life of the intangible assets and the amortisation period are reviewed at the end of each financial year and the amortisation period is revised to reflect the changed pattern, if any. Accordingly, the Corporation is required to carry a minimum provision of Rs, 1,604.92 crore (Previous Year Rs, 1,341.03 crore) towards standard assets. 11, ESOS-08 and ESOS-07 were granted at the market price, the intrinsic value of the option is Nil. A) Contingent liability in respect of income-tax demands, net of amounts provided for and disputed by the Corporation, amounts to Rs, 1,528.78 crore (Previous Year Rs, 1,241.88 crore).

More Information on Housing Development Finance Corporation Ltd.

For transition to Ind AS, the Corporation has elected to adopt as deemed cost, the carrying value of PPE measured as per IGAAP less accumulated depreciation and cumulative impairment on the transition date of April 1, 2017. Dividend income is recognised when the Corporation’s right to receive dividend is established by the reporting date. Probability of Default is the probability of whether borrowers will default on their obligations which are calculated based on historical default rate summary of past years using origination vintage analysis.

Current and deferred tax relating to items directly recognized in reserves are recognized in reserves and not in the Statement of Profit and Loss. Fees, charges and other revenue is recognized after the service is rendered to the extent that it is probable that the economic benefits will flow to the Corporation and that the revenue can be reliably measured, regardless of when the payment is being made. These financial statements have been prepared in accordance with historical cost convention, applicable Accounting Standards specified under Section 133 of the Companies Act, 2013, the relevant provisions of the Companies Act, 2013 and the guidelines issued by the National Housing Bank to the extent applicable.

LOAN

Transaction costs and revenues that are directly attributable to the acquisition or issue of financial assets and financial liabilities are added to or deducted from the fair value of the financial assets or financial liabilities, as appropriate, on initial recognition. Transaction costs and revenues directly attributable to the acquisition of financial assets or financial liabilities measured at FVTPL are recognised immediately in the statement of profit and loss. 3.5 The Guidance Note on Accounting for Derivative Contracts issued by the Institute of Chartered Accountants of India was effective from April 1, 2016.

Brokerage, other than incentive brokerage on deposits, is amortised over the period of the deposit. Lease rental income in respect of leases is recognised in accordance with the Accounting Standard on ”Leases” notified by the Companies Rules, 2006. 2) Market value of Investments in Unquoted Mutual Funds represents the repurchase price of the units issued by the Mutual Funds. 8.1 Trade Payables include Rs. 0.07 crore (Previous Year Rs. 0.10 crore) payable to “Suppliers” registered under the Micro, Small and Medium Enterprises Development Act, 2006. No interest has been paid/payable by the Corporation during the year to the “Suppliers” covered under the Micro, Small and Medium Enterprises Development Act, 2006.

Depreciation in respect of Leasehold Improvements is provided on the straight-line method over the primary period of the lease. The cash flows from operating, investing and financing activities of the Corporation are segregated based on the available information. 2.5 The Corporation has not allotted any share pursuant to contracts without payment being received in cash or as bonus shares nor has it bought back any shares during the preceding period of 5 financial years. Since all the stock options granted under ESOS-08 and ESOS-07 have been vested, the stock based compensation expense determined under fair value based method is Rs. Accordingly, there is no change in the reported and pro-forma net profit and Basic and Diluted EPS. Such assets are de-recognised, if and only if, the Corporation loses control of the contractual rights that comprise the corresponding pools or mortgages transferred.

LIFE

On de-recognition, the difference between the book value of the securitized asset and consideration received is recognized as gain arising on securitization in the Statement of Profit and Loss over the balance maturity period of the pool transferred. Losses, if any, arising from such transactions, are recognized immediately in the Statement of Profit and Loss. The estimated useful life of the intangible assets and the amortization period are reviewed at the end of each financial year and the amortization period is revised to reflect the changed pattern, if any. Cash equivalents are short-term deposits with banks , highly liquid investments that are readily convertible into known amounts of cash and which are subject to insignificant risk of changes in value. Accounting policies applied have been consistent with previous year except where different treatment is required as per new pronouncements made by the regulatory authorities.

• The Corporation designates certain derivatives as either hedges of the fair value of recognised assets or liabilities or hedges of highly probable forecast transactions .
• The company operates 128 full service offices, which consists of 50 offices in West Virginia; 73 offices in the Shenandoah Valley region of Virginia and the Northern Virginia, Maryland, and Washington, D.C.
• Current and deferred taxes relating to items directly recognized in reserves are recognized in reserves and not in the Statement of Profit and Loss.

The above information takes into account only those suppliers who have responded to inquiries made by the Corporation for this purpose. Brokerage and incentive brokerage on deposits is amortised over the period of the deposit. 4.9 Public deposits as defined in paragraph 2 of the Housing Finance Companies Directions, 2010, are secured by floating charge and Lien in favour of the Trustee”s for Depositors on the Statutory Liquid Assets maintained in terms of sub-sections & of Section 29B of the National Housing Bank Act, 1987. The figures in Notes 3.6, 3.7 and 26.2 are not comparable with those of the previous year due to revision in the accounting policy during the year upon alignment with the accounting recommended in the said Guidance Note. Intangible Assets comprising of system software are stated at cost of acquisition, including any cost attributable for bringing the same to its working condition, less accumulated amortization. These costs are not adjusted to reflect the changing value in the purchasing power of money.

United Bankshares Declares $0.36 Quarterly Dividend; 3.5% Yield

As per the corpoimmigrant investor visas laws in India, an interim dividend is authorised when it is approved by the Board of Directors and final dividend is authorised when it is approved by the shareholders. As at the end of each accounting year, the Corporation reviews the carrying amounts of its PPE, investment property and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If such indication exists, the PPE, investment property and intangible assets are tested for impairment so as to determine the impairment loss, if any. PPE held for use are stated in the balance sheet at cost less accumulated depreciation and accumulated impairment losses.

3.3 As per Section 29C of the The https://1investing.in/ Act, 1987 (the “NHB Act”), the Corporation is required to transfer at least 20% of its net profits every year to a reserve before any dividend is declared. For this purpose any Special Reserve created by the Corporation under Section 36 of the Income- tax Act, is considered to be an eligible transfer. The Corporation has transferred an amount of Rs. 1,054 crore (Previous Year Rs. 890 crore) to Special Reserve No. II in terms of Section 36 of the Income-tax Act, 1961 and an amount of Rs. 150 crore (Previous Year Rs. 900 crore) to “Statutory Reserve “. Payments under a non cancellable operating lease arrangement, where the risks and rewards incidental to ownership of an asset substantially vest with the lessor, are charged to the Statement of Profit and Loss on a straight-line basis over the lease term, unless another systematic basis is more appropriate.

The Corporation shall finance eligible sub projects by way of loans to eligible sub borrowers. C) Issue of equity shares on a Qualified Institutional Placement basis for a total consideration not exceeding Rs, 1,896 crore. With effect from August 21, 2010, the nominal face value of equity shares of the Corporation was subdivided from Rs, 10 per share to Rs, 2 per share. Each option exercised under ESOS-07, ESOS-08, ESOS-11 and ESOS-14 entitles 5 equity shares of Rs, 2 each.

At the commencement date of a lease, a lessee will recognise a liability to make lease payments (i.e., the lease liability) and an asset representing the right to use the underlying asset during the lease term (i.e., the right-of-use asset). Lessees will be required to separately recognise the interest expense on the lease liability and the depreciation expense on the right-of-use asset. The Corporation is currently evaluating the impact of Ind AS 116 on its financial statements.

These funds and the schemes thereunder are recognised by the Income-tax authorities and administered by various trustees. 4.8 Monetary assets and liabilities denominated in foreign currencies are revalued at the rate of exchange prevailing at the year end. 3.8 The Board of Directors have proposed dividend on equity shares at Rs, 15 per share at their meeting held on May 4, 2017. As per the Companies Amendment Rules, 2016, the dividend will be recorded after the approval in Annual General Meeting.

Monitor the latest movements within the United Bankshares Inc real time stock price chart below. You can find more details by visiting the additional pages to view historical data, charts, latest news, analysis or visit the forum to view opinions on the UBSI quote. Depreciation on Buildings, Computers, Leased Assets and Leasehold Improvements, is calculated as per the straight-line method; and on other assets as per the reducing balance method. All assets except Computers and Leased Assets are depreciated at rates specified by the Companies Act, 1956.

Small-Cap Stock Paying Rs 47/Share Dividend to Turn Ex-Dividend This Week

Deferred tax assets are recognized for timing differences of items other than unabsorbed depreciation and carry forward losses only to the extent that reasonable certainty exists that sufficient future taxable income will be available against which these can be realized. However, if there are unabsorbed depreciation and carry forward of losses, deferred tax assets are recognized only if there is virtual certainty that there will be sufficient future taxable income available to realize the assets. Ind AS 116 Leases was notified on 28th March, 2019 and it replaces Ind AS 17 Leases, including appendices thereto. Ind AS 116 sets out the principles for the recognition, measurement, presentation and disclosure of leases and requires lessees to account for all leases under a single on-balance sheet model similar to the accounting for finance leases under Ind AS 17. The standard includes two recognition exemptions for lessees – leases of ‘low-value’ assets (e.g., personal computers) and short-term leases (i.e., leases with a lease term of 12 months or less).

A modification of a financial asset occurs when the contractual terms governing the cash flows of a financial asset are renegotiated or otherwise modified between initial recognition and maturity of the financial asset. A modification affects the amount and/or timing of the contractual cash flows either immediately or at a future date. Gains and losses on equity instruments at FVOCI are never recycled to the statement of profit and loss. Dividends are recognised in profit or loss as dividend income when the right of the payment has been established, except when the Corporation benefits from such proceeds as a recovery of part of the cost of the instrument, in which case, such gains are recorded in OCI.

Instead, the combined effect of several events may have caused financial assets to become credit-impaired. The Corporation assesses whether debt instruments that are financial assets measured at amortised cost or FVOCI are credit-impaired at each reporting date. To assess if corporate debt instruments are credit impaired, the Corporation considers factors such as bond yields, credit ratings and the ability of the borrower to raise funds. Loans and debt securities are written off when the Corporation has no reasonable expectations of recovering the financial asset .

Other Income represents income earned from the activities incidental to the business and is recognised when the right to receive the income is established as per the terms of the contract. The financial statements are prepared and presented on going concern basis and the relevant provisions of Act and the guidelines and directives issued by the Reserve Bank of India and National Housing Bank (“NHB”) to the extent applicable. Market cap or market capitalization is the total market value of all of a company’s outstanding shares. The Corporation’s contributions paid / payable during the year towards Provident Fund and Superannuation Fund are charged in the Profit and Loss Account every year.

Wherever the Corporation has entered into a forward contract or an instrument that is, in substance, a forward exchange contract, the difference between the forward rate and the exchange rate on the date of the transaction is recognised as income or expense over the life of the contract. Cross currency interest rate swaps are recorded by marking the foreign currency component to spot rate. The net loss/gain on translation of long term monetary assets and liabilities in foreign currencies is amortised over the period of monetary assets and liabilities. The net loss/gain on translation of short term monetary assets and liabilities in foreign currencies is recorded in the Statement of Profit and Loss.

• Where hedge accounting is used, fair value changes of the derivative contracts are recognized through the Statement of Profit and Loss in the same period as the offsetting losses and gains on the hedged item.
• Interest income on financial instruments is recognised on a time proportion basis taking into account the amount outstanding and the effective interest rate applicable.
• Such assets are derecognised, if and only if, the Corporation loses control of the contractual rights that comprise the corresponding pools or mortgages transferred.
• Such transfers result in de-recognition only of that proportion of the mortgages as meet the de-recognition criteria.
• The Corporation provides fully secured, partially secured and unsecured loans to individuals and Corporates.

Investment properties are carried individually at cost less accumulated depreciation and impairment, if any. The gain/loss on account of Investments in Preference Shares, Debentures/Bonds and Government Securities held as long-term investments and acquired at a discount/premium, is recognised over the life of the security on a pro-rata basis. Provision for diminution in the value of investments is made in accordance with the guidelines issued by the National Housing Bank and the Accounting Standard on Accounting for Investments” notified by the Companies Rules, 2006, and is recognised through the Provision for Contingencies Account.

Compensated absences which are not expected to occur within twelve months after the end of the period in which the employee renders the related service are recognised as a liability at the present value of the defined benefit obligation as at the balance sheet date, based on actuarial valuation. Intangible assets are recognised when it is probable that the future economic benefits that are attributable to the asset will flow to the Corporation and the cost of the asset can be measured reliably. Intangible assets are stated at original cost net of tax/duty credits availed, if any, less accumulated amortisation and cumulative impairment. Administrative and other general overhead expenses that are specifically attributable to acquisition of intangible assets are allocated and capitalised as a part of the cost of the intangible assets. Where a modification does not lead to derecognition the Corporation calculates the modification gain/loss comparing the gross carrying amount before and after the modification . Then the Corporation measures ECL for the modified asset, where the expected cash flows arising from the modified financial asset are included in calculating the expected cash shortfalls from the original asset.