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

Rhea-AI Summary

Valley National Bancorp (NASDAQ:VLY) declared its quarterly dividends for common and preferred stock, payable to shareholders of record on December 15, 2020. The cash dividends include: $0.390625 per share on Series A Preferred Stock, $0.34375 per share on Series B Preferred Stock, both payable on December 30, 2020, and $0.11 per share on common stock, payable on January 4, 2021. The common stock dividend remains unchanged from the previous quarter, indicating stable shareholder returns.

Positive

• Quarterly dividends declared for common and preferred stock, indicating steady income for shareholders.
• $0.390625 per share for Series A and $0.34375 for Series B Preferred Stock demonstrate strong commitment to preferred shareholders.
• Common stock dividend of $0.11 per share signifies consistent dividend policy.

Negative

• None.

NEW YORK, Nov. 18, 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 December 15, 2020 are as follows:        

• A cash dividend of $0.390625 per share to be paid December 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 December 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 January 4, 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 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 September 30, 2020.

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

FAQ

What are the dividend amounts declared by Valley National Bancorp (VLY) in November 2020?

Valley National Bancorp declared dividends of $0.390625 per share for Series A Preferred Stock, $0.34375 for Series B Preferred Stock, and $0.11 for common stock.

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

Dividends will be paid on December 30, 2020, for preferred stocks and on January 4, 2021, for common stock.

Is the dividend for common stock of Valley National Bancorp (VLY) the same as the previous quarter?

Yes, the common stock dividend of $0.11 per share remains unchanged compared to the previous quarter.

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

The record date for the declared dividends is December 15, 2020.