ELLSWORTH – Union Bankshares Co., parent company of the Union Trust Co., has announced a quarterly cash dividend of 55 cents per share on the company’s common stock. This is a 10 percent increase over dividends for the same quarter last year.

The pay date is Oct. 23 for shareholders of record as of Sept. 21.

The company’s board of directors also has approved the establishment of the dividend reinvestment and stock purchase plan. This voluntary program will allow shareholders automatically to reinvest all or part of their dividends. The plan will be up and running by the end of 2001 and shareholders will be able to participate with their fourth-quarter dividend.

Union Trust can be found on the Internet at www.uniontrust.com.