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

Rhea-AI Summary

Valley National Bancorp (VLY) announced its regular preferred and common dividends. The declared quarterly dividends to shareholders of record on September 14, 2023 are as follows: A cash dividend of $0.390625 per share on Valley’s Non-Cumulative Perpetual Preferred Stock Series A, $0.582402 per share on Valley’s Non-Cumulative Perpetual Preferred Stock Series B, and $0.11 per share on Valley’s common stock. The common stock cash dividend amount per share was unchanged compared to the previous quarter dividend.

NEW YORK, Aug. 14, 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 September 14, 2023 are as follows:        

• A cash dividend of $0.390625 per share to be paid September 29, 2023 on Valley’s Non-Cumulative Perpetual Preferred Stock Series A;
  
  
• A cash dividend of $0.582402 per share to be paid September 29, 2023 on Valley’s Non-Cumulative Perpetual Preferred Stock Series B; and
  
  
• A cash dividend of $0.11 per share will be paid October 2, 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 nearly $62 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 in 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. These statements may be identified by such forward-looking terminology as “intend,” “should,” “expect,” “believe,” “view,” “opportunity,” “allow,” “continues,” “reflects,” “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. 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 and Quarterly Report on Form 10-Q for quarterly period ended June 30, 2023.

Contact:
Travis Lan, FSVP

Corporate Finance &

Business Development

(973) 686-5007

FAQ

What dividends did Valley National Bancorp (VLY) announce?

Valley National Bancorp announced a cash dividend of $0.390625 per share on its Non-Cumulative Perpetual Preferred Stock Series A, $0.582402 per share on its Non-Cumulative Perpetual Preferred Stock Series B, and $0.11 per share on its common stock.

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

The dividends will be paid on September 29, 2023, for the preferred stock dividends, and on October 2, 2023, for the common stock dividend.

Is the common stock cash dividend an indicator of future dividends to Valley National Bancorp (VLY) common stockholders?

No, the common cash dividend should not be used as an indicator of future dividends to Valley’s common stockholders.