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

Rhea-AI Summary

Valley National Bancorp (NASDAQ:VLY) announced quarterly dividends for shareholders on record as of September 15, 2021. A cash dividend of $0.390625 per share will be paid on its 6.25% Fixed-To-Floating Rate Preferred Stock Series A, and $0.34375 per share on the 5.50% Fixed-To-Floating Rate Preferred Stock Series B, both on September 30, 2021. Additionally, the common stock dividend is set at $0.11 per share, payable October 1, 2021, unchanged from the previous quarter. These dividends underscore the bank's commitment to shareholder returns amidst its operational strategy.

Positive

• Quarterly dividends reflect commitment to shareholder returns.
• Fixed dividends indicate financial stability with consistent payouts.

Negative

• No increase in common stock dividend may indicate cautious outlook.

NEW YORK, Aug. 18, 2021 (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 15, 2021 are as follows:        

• A cash dividend of $0.390625 per share to be paid September 30, 2021 on Valley’s 6.25% Fixed-To-Floating Rate Non-Cumulative Perpetual Preferred Stock Series A;

• A cash dividend of $0.34375 per share to be paid September 30, 2021 on Valley’s 5.50% Fixed-To-Floating Rate Non-Cumulative Perpetual Preferred Stock Series B; and
  

• A cash dividend of $0.11 per share will be paid October 1, 2021 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 $41 billion in assets. Valley is committed to giving people and businesses the power to succeed. Valley operates many convenient branch locations across New Jersey, New York, Florida and Alabama, 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 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 new and existing programs and products, acquisitions, relationships, opportunities, taxation, technology, market conditions and economic expectations, including the potential effects of the COVID-19 pandemic on our businesses and financial results and conditions. These statements may be identified by such forward-looking terminology as “should,” “expect,” “believe,” “view,” “opportunity,” “allow,” “continues,” “reflects,” “typically,” “usually,” “anticipate,” or similar statements or variations of such terms. Such forward-looking statements involve certain risks and uncertainties and 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, 2020 and in Item 1A of our Quarterly Report on Form 10-Q for the quarter ended June 30, 2021.

Contact:	Travis Lan, SVP
	Corporate Finance &
	Business Development
	(973) 686-5007

FAQ

What is the dividend amount for Valley National Bancorp's preferred stock Series A?

The cash dividend for Series A is $0.390625 per share.

When will Valley National Bancorp pay dividends?

Dividends will be paid on September 30, 2021, for preferred stocks and October 1, 2021, for common stock.

What is the dividend amount for Valley National Bancorp's common stock?

The cash dividend for common stock is $0.11 per share.

Is the common stock dividend increasing for Valley National Bancorp?

No, the common stock dividend remains unchanged from the previous quarter.

What is the significance of the declared dividends for VLY shareholders?

The declared dividends demonstrate the bank's ongoing commitment to rewarding shareholders despite market uncertainties.