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

Rhea-AI Summary

Valley National Bancorp (NASDAQ:VLY) announced its regular dividends for preferred and common stock. Shareholders of record on March 15, 2021, will receive the following cash dividends: $0.390625 per share for Series A preferred stock, $0.34375 for Series B preferred stock, and $0.11 for common stock. All dividends are payable on March 30 and April 1, 2021, with the common stock dividend remaining unchanged from the previous quarter. The company emphasizes that this amount should not be taken as an indicator for future dividends.

Positive

• Declared cash dividends for preferred and common stock provide income for shareholders.
• Unchanged common stock dividend indicates stable cash flow.

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• None.

NEW YORK, Feb. 23, 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 March 15, 2021 are as follows:        

• A cash dividend of $0.390625 per share to be paid March 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 March 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 April 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 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 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, 2019 and in Item 1A of our Quarterly Report on Form 10-Q for the quarter ended September 30, 2020.

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

FAQ

What is the dividend payment date for VLY stock?

The payment date for VLY's dividends is March 30, 2021, for preferred stock and April 1, 2021, for common stock.

What are the dividend amounts for Valley National Bancorp?

Valley National Bancorp declared a cash dividend of $0.390625 for Series A preferred stock, $0.34375 for Series B preferred stock, and $0.11 for common stock.

Is the common stock dividend for VLY increasing?

No, the common stock dividend remains unchanged compared to the previous quarter.

Who qualifies for the dividend on VLY stock?

Shareholders of record as of March 15, 2021, qualify for the declared dividends.