Sterling Bancorp Declares Quarterly Dividend on Preferred Stock
Rhea-AI Summary
Sterling Bancorp (NYSE: STL) has announced a quarterly cash dividend of $16.25 per share on its 6.50% Series A Non-Cumulative Perpetual Preferred stock (NYSE: STLPRA). This dividend, amounting to $0.40625 per depositary share, will be payable on January 14, 2022 to shareholders of record as of December 30, 2021. The announcement reflects the company’s commitment to returning value to its shareholders.
AI-generated analysis. Not financial advice.
Positive
- Declaration of a quarterly cash dividend of $16.25 per share, enhancing shareholder income.
- Continued confidence in the financial stability of Sterling Bancorp as indicated by the dividend payout.
Negative
- None.
News Market Reaction – STL
On the day this news was published, STL declined 3.87%, reflecting a moderate negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
PEARL RIVER, N.Y., Dec. 10, 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
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 |
