TrustCo Declares Cash Dividend

Rhea-AI Summary

TrustCo Bank Corp NY (TRST) announced a quarterly cash dividend of $0.35 per share, totaling $1.40 annually. This dividend will be payable on July 1, 2022, to shareholders on record by June 3, 2022. Since 1904, TrustCo has consistently paid dividends, reflecting a strong corporate performance attributed to years of planning and customer service enhancements. Operating 145 offices across several states, TrustCo holds $6.3 billion in assets, demonstrating stability and ongoing commitment to shareholder returns.

Positive

• Declared quarterly cash dividend of $0.35 per share, reflecting strong financial performance.
• TrustCo has paid dividends consistently since 1904, showcasing commitment to shareholders.
• Continued expansion into new markets, enhancing customer base and service offerings.

Negative

• None.

GLENVILLE, N.Y., May 17, 2022 (GLOBE NEWSWIRE) -- The Board of Directors of TrustCo Bank Corp NY (TrustCo, Nasdaq: TRST) on May 17, 2022 declared a quarterly cash dividend of $0.35 per share, or $1.40 per share on an annualized basis. The dividend will be payable on July 1, 2022 to shareholders of record at the close of business on June 3, 2022. TrustCo has paid a cash dividend every year since 1904.

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 honor the century-long tradition of distributing a solid payout to our owners. 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

TrustCo Bank Corp NY is a $6.3 billion savings and loan holding company. Through its subsidiary, Trustco Bank, Trustco operates 145 offices in New York, New Jersey, Vermont, Massachusetts and Florida. Trustco has a more than 100-year tradition of providing high-quality services, including a wide variety of deposit and loan products. In addition, Trustco Bank’s Financial Services Department offers a full range of investment services, retirement planning and trust and estate administration services. Trustco Bank is rated as one of the best performing savings banks in the country. The common shares of TrustCo are traded on the NASDAQ Global Select Market under the symbol TRST. For more information, visit www.trustcobank.com.

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.

Subsidiary: Trustco Bank

Contact:	Robert M. Leonard
	Executive Vice President and Chief Risk Officer
	(518) 381-3693

FAQ

What is the dividend amount declared by TrustCo Bank Corp NY (TRST)?

TrustCo Bank Corp NY declared a quarterly cash dividend of $0.35 per share.

When will TrustCo Bank Corp NY (TRST) pay its dividend?

The dividend will be payable on July 1, 2022.

What are the record dates for the dividend payment by TrustCo Bank Corp NY (TRST)?

Shareholders must be on record by June 3, 2022, to receive the dividend.

How long has TrustCo Bank Corp NY (TRST) been paying dividends?

TrustCo has paid cash dividends every year since 1904.

What is the annualized dividend for TrustCo Bank Corp NY (TRST)?

The annualized dividend amounts to $1.40 per share.