Sterling Bancorp Declares Quarterly Dividend on Preferred Stock

Rhea-AI Summary

Sterling Bancorp (NYSE: STL) announced a quarterly cash dividend of $16.25 per share on its 6.50% Series A Non-Cumulative Perpetual Preferred stock (NYSE: STLPRA). This dividend is set to be paid on January 15, 2021, to shareholders on record as of December 31, 2020. The announcement emphasizes Sterling's ongoing commitment to returning value to its shareholders while providing a range of banking services to the communities it serves through experienced relationship managers.

Positive

• Quarterly cash dividend of $16.25 per share reinforces shareholder value.
• Demonstrates ongoing commitment to returning profits to shareholders.

Negative

• None.

PEARL RIVER, N.Y., Dec. 14, 2020 (GLOBE NEWSWIRE) -- Sterling Bancorp (NYSE: STL), the parent company of Sterling National Bank, today announced that the Board of Directors has declared a quarterly cash dividend of $16.25 per share ($0.40625 per each depositary share) on its 6.50% Series A Non-Cumulative Perpetual Preferred stock (NYSE: STLPRA). The dividend is payable January 15, 2021 to shareholders of record as of December 31, 2020.

About Sterling Bancorp

Sterling Bancorp, whose principal subsidiary is Sterling National Bank, specializes in the delivery of service and solutions to business owners, their families and consumers within the communities we serve through teams of dedicated and experienced relationship managers. Sterling National Bank offers a complete line of commercial, business, and consumer banking products and services. For more information, visit the Sterling Bancorp website at www.sterlingbancorp.com.

STERLING BANCORP CONTACT:
Emlen Harmon, SVP – Director of Investor Relations
212.309.7646

Sterling Bancorp
Two Blue Hill Plaza, Second Floor
Pearl River, NY 10965

T 845.369.8040
F 845.369.8255

http://www.sterlingbancorp.com

FAQ

What is the dividend amount declared by Sterling Bancorp?

The dividend amount declared is $16.25 per share.

When is the dividend payable to shareholders of Sterling Bancorp?

The dividend is payable on January 15, 2021.

What is the record date for the dividend payment by Sterling Bancorp?

The record date for the dividend payment is December 31, 2020.

What type of stock is the dividend related to at Sterling Bancorp?

The dividend is related to the 6.50% Series A Non-Cumulative Perpetual Preferred stock.

What is the ticker symbol for Sterling Bancorp?

The ticker symbol for Sterling Bancorp is STL.