Built on an Independent and Strong Foundation, TrustCo Declares Dividend
16 Maio 2023 - 5:00PM
The Board of Directors of TrustCo Bank Corp NY (TrustCo, Nasdaq:
TRST) on May 16, 2023, 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 3, 2023 to shareholders of record at the
close of business on June 2, 2023.
Chairman, President, and Chief Executive Officer
Robert J. McCormick said: “We continue to build upon our
independent and strong foundation, remaining steadfast in our
mission to be the low cost provider of high quality services to our
customers in the communities we serve, and return to our owners an
above average return on their investment. It is with great pride
that we announce this reliable distribution of income to our
owners, especially in the face of uncertainty our industry is
currently facing. TrustCo is recognized as a cornerstone in its
communities, and a trustworthy institution, never accepting a
government bailout since its inception in 1902.”
About TrustCo Bank Corp NY
TrustCo Bank Corp NY is a $6.0 billion savings
and loan holding company. Through its subsidiary, Trustco Bank,
Trustco operates 143 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
inflation and 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; the geopolitical and
macroeconomic impact of the war in Ukraine; the impact of the
actions taken by governmental authorities to contain the COVID-19
pandemic or address the impact of the pandemic on the economy; 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; 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 |
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(518) 381-3693 |
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