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

Rhea-AI Summary

Valley National Bancorp (NASDAQ:VLY) announced regular preferred and common dividends for shareholders of record on June 15, 2021. The cash dividend details are as follows: $0.390625 per share for Series A preferred stock and $0.34375 per share for Series B preferred stock, both payable on June 30, 2021. Additionally, a cash dividend of $0.11 per share will be paid on common stock on July 1, 2021. The common stock dividend remains unchanged from the previous quarter. Investors are advised that this amount should not be taken as a future indicator for dividends.

Positive

• Regular dividends indicate financial stability and shareholder return.
• Preferred stock dividends reflect ongoing commitment to maintaining investor confidence.

Negative

• Common stock dividend unchanged may signal limited growth expectations.
• No indication of future dividend increases could affect investor sentiment.

NEW YORK, May 19, 2021 (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 June 15, 2021 are as follows:        

• A cash dividend of $0.390625 per share to be paid June 30, 2021 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 June 30, 2021 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 July 1, 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 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 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,” “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, 2020.

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

FAQ

What is the dividend amount for Valley National Bancorp's common stock?

Valley National Bancorp will pay a cash dividend of $0.11 per share on common stock on July 1, 2021.

When will Valley National Bancorp pay dividends on preferred shares?

Dividends on preferred shares Series A and Series B will be paid on June 30, 2021.

What are the dividend amounts for Series A and Series B preferred stocks?

The dividend for Series A preferred stock is $0.390625 per share, and for Series B, it is $0.34375 per share.

How does the unchanged common stock dividend impact investors?

The unchanged common stock dividend may signal limited growth expectations and could affect investor sentiment.