TrustCo Announces First Dividend of 2025; Continues Annualized Payout of $1.44 per share

Rhea-AI Summary

TrustCo Bank Corp NY (Nasdaq: TRST) has announced its first quarterly dividend for 2025, maintaining its $0.36 per share payout ($1.44 annualized). The dividend will be distributed on April 1, 2024 to shareholders of record as of March 7, 2025.

The company emphasized its long-standing tradition of delivering quarterly dividends since 1904, highlighting the consistency of its corporate performance. Chairman, President, and CEO Robert J. McCormick expressed optimism about 2025 and pride in the team's ability to maintain reliable dividend payments that contribute to investors' financial goals.

Positive

• Consistent quarterly dividend maintained at $0.36 per share ($1.44 annually)
• 121-year track record of uninterrupted quarterly dividend payments since 1904

Negative

• None.

GLENVILL, N.Y., Feb. 19, 2025 (GLOBE NEWSWIRE) -- The Board of Directors of TrustCo Bank Corp NY (TrustCo, Nasdaq: TRST) on February 18, 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 April 1, 2024 to shareholders of record at the close of business on March 7, 2025.

Chairman, President, and Chief Executive Officer Robert J. McCormick said: “With 2025 now fully under way, many people, us included, see cause for optimism. Since 1904, TrustCo has delivered a strong dividend every quarter. This kind of payout, and the steady corporate performance that supports it, are TrustCo hallmarks that fuel more than just optimism, but rather lead to the genuine satisfaction that investors realize from meeting their financial goals. We are very proud of the team and the effort that make our reliable dividend - and the positive financial benefits that come with it - possible.”

About TrustCo Bank Corp NY

TrustCo Bank Corp NY is a $6.2 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.

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

FAQ

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

TrustCo's dividend for Q1 2025 is $0.36 per share, maintaining its quarterly payout rate.

When is the ex-dividend date for TrustCo's (TRST) Q1 2025 dividend?

Shareholders must be on record by March 7, 2025, to receive the Q1 2025 dividend.

What is TrustCo's (TRST) annual dividend yield for 2025?

Based on the quarterly payment of $0.36, TrustCo's annualized dividend payout is $1.44 per share for 2025.

How long has TrustCo (TRST) been paying dividends?

TrustCo has maintained a consistent quarterly dividend payment since 1904, spanning 121 years.

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

TrustCo will pay its Q1 2025 dividend on April 1, 2024.