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

Rhea-AI Summary

Valley National Bancorp (NASDAQ:VLY) announced its regular dividends for shareholders, payable on September 30, 2022. The cash dividends include $0.390625 per share for the 6.25% Fixed-To-Floating Rate Non-Cumulative Perpetual Preferred Stock Series A, and $0.34375 per share for the 5.50% Fixed-To-Floating Rate Non-Cumulative Perpetual Preferred Stock Series B. Additionally, a cash dividend of $0.11 per share on common stock will be paid on October 3, 2022. The common stock cash dividend remains unchanged from the previous quarter.

Positive

• Consistent dividend payouts for preferred and common stock, indicating financial stability.
• Dividend payments reflect company confidence amid market conditions.

Negative

• None.

NEW YORK, Aug. 16, 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 September 15, 2022 are as follows:

• A cash dividend of $0.390625 per share to be paid September 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 September 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 October 3, 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 approximately $54 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 across 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, 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,” “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 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, 2021.

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

FAQ

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

The cash dividend for common stock is $0.11 per share, payable on October 3, 2022.

When will the preferred stock dividends for Valley National Bancorp be paid?

The preferred stock dividends will be paid on September 30, 2022.

Is the dividend amount for common stock changing this quarter?

No, the common stock cash dividend amount remains unchanged compared to the previous quarter.

What are the preferred stock dividend amounts for Valley National Bancorp?

The dividends are $0.390625 per share for Series A and $0.34375 per share for Series B, both payable on September 30, 2022.