Strong First Quarter Supports TrustCo’s Declaration of Dividend; Continues Reliable Payout

Rhea-AI Summary

TrustCo Bank Corp NY (Nasdaq: TRST) has declared a quarterly cash dividend of $0.36 per share, equivalent to $1.44 per share annually. The dividend will be paid on July 1, 2025, to shareholders of record as of June 6, 2025. CEO Robert J. McCormick highlighted the company's strong first-quarter performance and emphasized the significance of their dividend program, which has maintained an uninterrupted distribution streak since 1904, supporting shareholders' important life expenses such as college tuition and retirement funding.

Positive

• Maintained uninterrupted dividend payments since 1904, demonstrating long-term financial stability
• Strong first-quarter performance enabling continued dividend distribution
• Quarterly dividend of $0.36 per share ($1.44 annually) provides steady income for shareholders

Negative

• None.

GLENVILLE, N.Y., May 21, 2025 (GLOBE NEWSWIRE) -- The Board of Directors of TrustCo Bank Corp NY (TrustCo, Nasdaq: TRST) on May 20, 2025, declared a quarterly cash dividend of $0.36 per share, or $1.44 per share on an annualized basis. The dividend will be payable on July 1, 2025 to shareholders of record at the close of business on June 6, 2025.

Chairman, President, and Chief Executive Officer Robert J. McCormick said: “We often hear that people use our dividend to pay college tuition, fund retirements, and for other significant life events. The dividend declared this quarter is another in an uninterrupted series ongoing since 1904. We are very pleased that the Company’s excellent first-quarter performance enables us to make this distribution to our owners.”  

About TrustCo Bank Corp NY

TrustCo Bank Corp NY is a $6.3 billion savings and loan holding company. Through its subsidiary, Trustco Bank, Trustco operates 136 offices in New York, New Jersey, Vermont, Massachusetts and Florida. Trustco has a more than 100-year tradition of providing high-quality services, including a wide variety of deposit and loan products. In addition, Trustco Bank’s Financial Services Department offers a full range of investment services, retirement planning and trust and estate administration services. Trustco Bank is rated as one of the best performing savings banks in the country. The common shares of TrustCo are traded on the NASDAQ Global Select Market under the symbol TRST. For more information, visit www.trustcobank.com.

Forward-Looking Statements
All statements in this news release that are not historical are forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words such as "anticipate," "intend," "plan," "goal," "seek," "believe," "project," "estimate," "expect," "strategy," "future," "likely," "may," "should," "will" and similar references to future developments, results or periods. TrustCo wishes to caution readers not to place undue reliance on any such forward-looking statements, which speak only as of the date made, and such forward-looking statements are subject to factors and uncertainties that could cause actual results to differ materially for TrustCo from the views, beliefs and projections expressed in such statements. Examples of these include, but are not limited to: the effects of ongoing inflationary pressures and changes in monetary and fiscal policies and laws, including increases in the Federal funds target rate by, and interest rate policies of, the Federal Reserve Board; changes in and uncertainty related to benchmark interest rates used to price loans and deposits; instability in global economic conditions and geopolitical matters; U.S. government shutdowns, credit rating downgrades, or failure to increase the debt ceiling;; the risks and uncertainties under the heading “Risk Factors” in our most recent annual report on Form 10-K and, if any, in our subsequent quarterly reports on Form 10-Q or other securities filings, including our upcoming annual report on Form 10-K for fiscal 2024; the other financial, operational and legal risks and uncertainties detailed from time to time in TrustCo’s cautionary statements contained in its filings with the Securities and Exchange Commission; and the effect of all of such items on our operations, liquidity and capital position, and on the financial condition of our borrowers and other customers. The forward-looking statements contained in this news release represent TrustCo management’s judgment as of the date of this news release. TrustCo disclaims, however, any intent or obligation to update forward-looking statements, either as a result of future developments, new information or otherwise, except as may be required by law.

Subsidiary: Trustco Bank

Contact:	Robert M. Leonard
	Executive Vice President
	(518) 381-3693

FAQ

What is TrustCo's (TRST) quarterly dividend amount for Q1 2025?

TrustCo declared a quarterly cash dividend of $0.36 per share, which equals $1.44 per share on an annualized basis.

When will TrustCo (TRST) pay its Q1 2025 dividend?

TrustCo will pay the dividend on July 1, 2025, to shareholders of record as of June 6, 2025.

How long has TrustCo Bank (TRST) been paying dividends?

TrustCo has maintained an uninterrupted dividend payment streak since 1904, spanning over 120 years.

What did TrustCo's CEO say about the Q1 2025 dividend?

CEO Robert J. McCormick stated that the company's excellent first-quarter performance enabled the dividend distribution, noting that shareholders use dividends for important expenses like college tuition and retirement funding.