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

Rhea-AI Summary

Valley National Bancorp (NASDAQ:VLY) announced regular dividends for shareholders of record on March 15, 2023, to be paid on March 30 and April 3, 2023. The dividends include a cash payment of $0.390625 per share for Non-Cumulative Perpetual Preferred Stock Series A, $0.519241 for Series B, and $0.11 per share for common stock. The common stock dividend remains unchanged from the previous quarter. Valley National Bank, with approximately $57 billion in assets, emphasizes customer service and community growth.

Positive

• Quarterly cash dividend of $0.11 per share on common stock, maintaining shareholder returns.
• Continued commitment to dividends despite economic uncertainties.

Negative

• Common cash dividend should not indicate future dividend trends, leading to uncertainty for shareholders.

NEW YORK, March 03, 2023 (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, 2023 are as follows:        

• A cash dividend of $0.390625 per share to be paid March 30, 2023 on Valley’s Non-Cumulative Perpetual Preferred Stock Series A;
  
  
• A cash dividend of $0.519241 per share to be paid March 30, 2023 on Valley’s Non-Cumulative Perpetual Preferred Stock Series B; and
  
  
• A cash dividend of $0.11 per share will be paid April 3, 2023 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 $57 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 across 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, 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,” “will,” “opportunity,” “allow,” “continues,” “would,” “could,” “typically,” “usually,” “anticipate,” “may,” “estimate,” “outlook,” “project,” 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, 2022.

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

 
          
                                                                            
                                                                            

 

FAQ

What are the dividend amounts for VLY shareholders in 2023?

Valley National Bancorp declared a cash dividend of $0.390625 for Series A, $0.519241 for Series B, and $0.11 for common stock.

When will the dividends for VLY be paid?

Dividends will be paid on March 30, 2023, for Series A and B, and on April 3, 2023, for common stock.

Is the common stock dividend for VLY changing in 2023?

The common stock cash dividend of $0.11 per share remains unchanged from the previous quarter.

What should investors know about VLY's dividend sustainability?

The company advises that the common cash dividend should not be viewed as a prediction for future dividends.