Amalgamated Bank Declares Regular Quarterly Dividend

Rhea-AI Summary

On November 5, 2020, Amalgamated Bank (Nasdaq: AMAL) declared a dividend of $0.08 per share, set to be paid on December 3, 2020. Shareholders of record as of November 19, 2020 will receive this payment. Future dividends will be determined at the discretion of the Board of Directors. As of September 30, 2020, Amalgamated Bank reported total assets of $6.6 billion, net loans totaling $3.6 billion, and deposits of $6.0 billion. The trust business managed $14.3 billion in assets under management.

Positive

• Declared dividend of $0.08 per share, enhancing shareholder income.
• Total assets stood at $6.6 billion, indicating strong financial stability.
• Trust business manages $14.3 billion, showcasing growth in asset management.

Negative

• None.

NEW YORK, Nov. 05, 2020 (GLOBE NEWSWIRE) -- Amalgamated Bank (Nasdaq: AMAL) (the “Company”) today announced that its Board of Directors has declared a regular dividend to common shareholders of $0.08 per share, payable on December 3, 2020, to shareholders of record on November 19, 2020. The amount and timing of any future dividend payments to shareholders will be subject to the discretion of the Company’s Board of Directors.

About Amalgamated Bank 

Amalgamated Bank is a New York-based full-service commercial bank and a chartered trust company with a combined network of six branches in New York City, Washington D.C., San Francisco, and Boston. Amalgamated was formed in 1923 as Amalgamated Bank of New York by the Amalgamated Clothing Workers of America, one of the country's oldest labor unions. Amalgamated provides commercial banking and trust services nationally and offers a full range of products and services to both commercial and retail customers. Amalgamated is a proud member of the Global Alliance for Banking on Values and is a certified B Corporation®. As of September 30, 2020, total assets were $6.6 billion, total net loans were $3.6 billion, and total deposits were $6.0 billion. Additionally, as of September 30, 2020, the trust business held $33.1 billion in assets under custody and $14.3 billion in assets under management.

Media Contact:
Kylie McKenna
The Levinson Group
kmckenna@mollylevinson.com
202-244-1785

Investor Contact:
Jamie Lillis
Solebury Trout
shareholderrelations@amalgamatedbank.com
800-895-4172

FAQ

What is the dividend amount declared by Amalgamated Bank (AMAL)?

Amalgamated Bank declared a dividend of $0.08 per share.

When will the dividend for AMAL shareholders be paid?

The dividend will be paid on December 3, 2020.

What is the record date for receiving the AMAL dividend?

The record date for the dividend is November 19, 2020.

How does Amalgamated Bank's total assets impact shareholders?

Amalgamated Bank's total assets of $6.6 billion reflect its financial strength, benefiting shareholders.

Is the dividend payment from Amalgamated Bank sustainable?

Future dividend payments are subject to the discretion of the Board of Directors.