Valley National Bancorp Declares Its Regular Quarterly Preferred and Common Stock Dividends

Rhea-AI Summary

Valley National Bancorp (NASDAQ:VLY) has announced its regular quarterly preferred and common stock dividends. For shareholders of record on September 13, 2024, the following dividends will be paid:

• $0.390625 per share on Series A Non-Cumulative Perpetual Preferred Stock
• $0.598871 per share on Series B Non-Cumulative Perpetual Preferred Stock
• $0.320833 per share on Series C Non-Cumulative Perpetual Preferred Stock
• $0.11 per share on common stock

All preferred stock dividends will be paid on September 30, 2024, while the common stock dividend will be paid on October 1, 2024. The common stock dividend remains unchanged from the previous quarter.

Positive

• Consistent dividend payments indicate financial stability
• Maintained common stock dividend at $0.11 per share
• Multiple classes of preferred stock provide diverse investment options

Negative

• None.

NEW YORK, Aug. 20, 2024 (GLOBE NEWSWIRE) -- Valley National Bancorp (NASDAQ:VLY) (“Valley”), the holding company for Valley National Bank, announced today its regular preferred and common dividends. The declared quarterly dividends to shareholders of record on September 13, 2024 are as follows:

• A cash dividend of $0.390625 per share to be paid September 30, 2024 on Valley’s Non-Cumulative Perpetual Preferred Stock Series A;
  
• A cash dividend of $0.598871 per share to be paid September 30, 2024 on Valley’s Non-Cumulative Perpetual Preferred Stock Series B;
  
• A cash dividend of $0.320833 per share to be paid September 30, 2024 on Valley’s Non-Cumulative Perpetual Preferred Stock Series C; and
  
• A cash dividend of $0.11 per share will be paid October 1, 2024 on Valley’s common stock.
  

The common stock cash dividend amount per share was unchanged as compared to the previous quarter dividend. The common cash dividend should not be used as an indicator of future dividends to Valley’s common stockholders.

About Valley

As the principal subsidiary of Valley National Bancorp, Valley National Bank is a regional bank with approximately $62 billion in assets. Valley is committed to giving people and businesses the power to succeed. Valley operates many convenient branch locations and commercial banking offices in New Jersey, New York, Florida, Alabama, California, and Illinois and is committed to providing the most convenient service, the latest innovations and an experienced and knowledgeable team dedicated to meeting customer needs. Helping communities grow and prosper is the heart of Valley’s corporate citizenship philosophy. To learn more about Valley, go to www.valley.com or call our Customer Care Center at 800-522-4100.

Forward Looking Statements

The foregoing contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are not historical facts and include expressions about management’s confidence and strategies and management’s expectations about Valley’s business, new and existing programs and products, acquisitions, relationships, opportunities, taxation, technology, market conditions and economic expectations. These statements may be identified by such forward-looking terminology as “intend,” “should,” “expect,” “believe,” “view,” “opportunity,” “allow,” “continues,” “reflects,” “typically,” “usually,” “anticipate,” “may,” “estimate,” “outlook,” “project,” or similar statements or variations of such terms. Such forward-looking statements involve certain risks and uncertainties. Valley’s actual results may differ materially from such forward-looking statements. Factors that may cause actual results to differ materially from those contemplated by such forward-looking statements include, but are not limited to those risk factors disclosed in Valley’s Annual Report on Form 10-K for the year ended December 31, 2023.

Contact:

Travis Lan Executive Vice President and Deputy Chief Financial Officer (973) 686-5007

FAQ

When will Valley National Bancorp (VLY) pay its next common stock dividend?

Valley National Bancorp will pay its next common stock dividend of $0.11 per share on October 1, 2024, to shareholders of record on September 13, 2024.

What is the dividend amount for Valley National Bancorp's (VLY) Series A Preferred Stock?

The dividend for Valley National Bancorp's Series A Non-Cumulative Perpetual Preferred Stock is $0.390625 per share, payable on September 30, 2024.

Has Valley National Bancorp (VLY) changed its common stock dividend compared to the previous quarter?

No, Valley National Bancorp has maintained its common stock dividend at $0.11 per share, unchanged from the previous quarter.

What is the record date for Valley National Bancorp's (VLY) upcoming dividend payments?

The record date for Valley National Bancorp's upcoming dividend payments is September 13, 2024.