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

Rhea-AI Summary

Valley National Bancorp (NASDAQ:VLY) has announced its quarterly dividends for shareholders of record on September 15, 2020. The dividends are as follows: $0.390625 per share for Series A preferred stock and $0.34375 for Series B preferred stock, both payable on September 30, 2020. Additionally, a common stock dividend of $0.11 per share will be paid on October 1, 2020. The common dividend remains unchanged from the previous quarter, indicating stability in dividend policy.

Positive

• Common stock dividend of $0.11 per share maintained, reflecting stability.
• Preferred stock dividends offered enhance attractiveness for income-focused investors.

Negative

• The common dividend should not be used as an indicator of future dividend payments.

NEW YORK, Aug. 12, 2020 (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, 2020 are as follows:

• A cash dividend of $0.390625 per share to be paid September 30, 2020 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, 2020 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, 2020 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 $42 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 Service 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,” “will,” “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 its Quarterly Report on Form 10-Q for the quarter ended June 30, 2020.

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

FAQ

What is the dividend amount for Valley National Bancorp (VLY) in September 2020?

Valley National Bancorp declared a cash dividend of $0.11 per share for common stock and $0.390625 for Series A preferred stock.

When will the dividends for Valley National Bancorp (VLY) be paid?

The dividends will be paid on September 30, 2020, for preferred stock and October 1, 2020, for common stock.

Who qualifies for the dividend from Valley National Bancorp (VLY)?

Shareholders of record on September 15, 2020, are eligible for the dividend.

Is the common dividend for Valley National Bancorp (VLY) expected to change in the future?

The common dividend amount remains unchanged, but it should not be viewed as a predictor of future dividends.