More good news: TrustCo announces significant increase in quarterly dividend
TrustCo Bank Corp NY (TRST) has announced a 2.8% increase in its quarterly cash dividend, raising it to $0.35 per share, equivalent to $1.40 annually. This increase will be paid on January 3, 2022, to shareholders of record by December 3, 2021. Chairman Robert J. McCormick attributed this achievement to the company’s strong performance and long-standing commitment to dividend payments since 1904. TrustCo operates 147 offices across several states and is recognized as a leading savings bank.
- Dividend increased by 2.8% to $0.35 per share.
- Maintaining a dividend payment tradition since 1904.
- Company expansion in New York, Florida, and New Jersey.
- None.
GLENVILLE, N.Y., Nov. 16, 2021 (GLOBE NEWSWIRE) -- The Board of Directors of TrustCo Bank Corp NY (TrustCo, Nasdaq: TRST) on November 16, 2021 declared an increase in the quarterly cash dividend of
Chairman, President, and Chief Executive Officer Robert J. McCormick said: “Corporate performance at the level achieved by TrustCo is the culmination of years of planning, hard work, grit, and determination. These attributes have been the hallmarks of TrustCo as it has paid a dividend every year since 1904. It is our distinct privilege to not only honor the century-long tradition of distributing a solid payout to our owners, but increasing it. Our success made this increase possible. We continue to cultivate new customers by providing top-level hometown service, leveraging technology, and expanding into new lending areas, as we have recently done in New York, Florida, and New Jersey.”
About TrustCo Bank Corp NY
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Safe Harbor Statement
All statements in this news release that are not historical are forward-looking statements within the meaning of the Securities Exchange Act of 1934, as amended. Forward-looking statements can be identified by words such as "anticipate," "intend," "plan," "goal," "seek," "believe," "project," "estimate," "expect," "strategy," "future," "likely," "may," "should," "will" and similar references to future periods. TrustCo wishes to caution readers not to place undue reliance on any such forward-looking statements, which speak only as of the date made, and such forward-looking statements are subject to factors that could cause actual results to differ materially from those discussed. Examples of these factors include, but are not limited to, the effect of the COVID-19 pandemic on our business, financial condition, liquidity and results of operations; the impact of the actions taken by governmental authorities to contain COVID-19 or address the impact of COVID-19 on the economy, and the effect of all of such items on our operations, liquidity and capital position, and on the financial condition of our borrowers and other customers, as well as other financial, operational and legal risks and uncertainties detailed from time to time in TrustCo’s cautionary statements contained in its filings with the Securities and Exchange Commission.
The forward-looking statements contained in this news release speak only as of today’s date. TrustCo disclaims any obligations to update forward-looking statements contained in this news release or in the above referenced reports, whether as a result of new information, future events or otherwise.
5 Sarnowski Drive, Glenville, New York 12302
(518) 377-3311 Fax: (518) 381-3668
Subsidiary: Trustco Bank
| Contact: | Robert M. Leonard |
| Executive Vice President and Chief Risk Officer | |
| (518) 381-3693 |
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