Sterling Bancorp Declares Quarterly Dividend on Preferred Stock

Rhea-AI Summary

Sterling Bancorp (NYSE: STL) has declared a quarterly cash dividend of $16.25 per share on its 6.50% Series A Non-Cumulative Perpetual Preferred stock (NYSE: STLPRA). This dividend will be payable on July 15, 2021 to shareholders of record as of June 25, 2021. The announcement reflects the company’s commitment to returning value to its shareholders.

Positive

• Quarterly cash dividend of $16.25 per share indicates strong financial health.
• Demonstrates commitment to shareholder returns.

Negative

• None.

News Market Reaction – STL

-1.26%

1 alert

-1.26% News Effect

On the day this news was published, STL declined 1.26%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

PEARL RIVER, N.Y., June 01, 2021 (GLOBE NEWSWIRE) -- Sterling Bancorp (NYSE: STL), the parent company of Sterling National Bank, today announced that its Board of Directors has declared a quarterly cash dividend of $16.25 per share ($0.40625 per each depositary share) on its 6.50% Series A Non-Cumulative Perpetual Preferred stock (NYSE: STLPRA). The dividend is payable on July 15, 2021 to shareholders of record as of June 25, 2021.

About Sterling Bancorp

Sterling Bancorp, whose principal subsidiary is Sterling National Bank, specializes in the delivery of service and solutions to business owners, their families and consumers within the communities we serve through teams of dedicated and experienced relationship managers. Sterling National Bank offers a complete line of commercial, business, and consumer banking products and services. For more information, visit the Sterling Bancorp website at www.sterlingbancorp.com.

STERLING BANCORP CONTACT:
Emlen Harmon, Senior Managing Director – Investor Relations
212.309.7646

Sterling Bancorp
Two Blue Hill Plaza, Second Floor
Pearl River, NY 10965

T 845.369.8040
F 845.369.8255

http://www.sterlingbancorp.com

FAQ

What is the dividend amount declared by Sterling Bancorp for STL?

Sterling Bancorp declared a dividend of $16.25 per share.

When is the dividend payable for STL?

The dividend is payable on July 15, 2021.

What is the record date for the dividend payment of STL?

The record date for the dividend payment is June 25, 2021.

What type of stock is the dividend associated with for STL?

The dividend is associated with the 6.50% Series A Non-Cumulative Perpetual Preferred stock.