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

Rhea-AI Summary

Valley National Bancorp (NASDAQ:VLY) announced its regular preferred and common dividends for shareholders of record on March 15, 2022. A cash dividend of $0.390625 per share will be paid on its 6.25% Fixed-To-Floating Rate Non-Cumulative Perpetual Preferred Stock Series A and $0.34375 for Series B, both on March 30, 2022. Additionally, a cash dividend of $0.11 per share will be paid on common stock on April 1, 2022. The common stock dividend amount remains unchanged from the previous quarter.

Positive

• Regular dividend payments signal financial stability.
• Dividends show confidence in future earnings despite market conditions.

Negative

• None.

NEW YORK, March 02, 2022 (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, 2022 are as follows:        

• A cash dividend of $0.390625 per share to be paid March 30, 2022 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, 2022 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, 2022 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 over $43 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 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,” 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 September 30, 2021.

Contact:

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

FAQ

What are the dividend amounts for Valley National Bancorp in 2022?

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

When will the dividends be paid to shareholders of Valley National Bancorp?

The preferred stock dividends will be paid on March 30, 2022, and the common stock dividend will be paid on April 1, 2022.

Is the dividend amount for common stock of Valley National Bancorp consistent with previous quarters?

Yes, the common stock cash dividend amount remains unchanged compared to the previous quarter.

What is the record date for the dividends announced by Valley National Bancorp?

The record date for the dividends is March 15, 2022.