TrustCo continues more than 100-year history of success, announces quarterly dividend
August 18 2021 - 4:00PM
The Board of Directors of TrustCo Bank Corp NY (TrustCo, Nasdaq:
TRST) on August 17, 2021 declared a quarterly cash dividend of
$0.340625 per share, or $1.3625 per share on an annualized basis.
The dividend will be payable on October 1, 2021 to shareholders of
record at the close of business on September 3, 2021. TrustCo has
paid a cash dividend every year since 1904.
Chairman, President and Chief Executive Officer
Robert J. McCormick said: “We are very pleased that our bank’s
performance, driven by management’s commitment to the growth of the
company, has enabled us to again provide our shareholders with a
strong cash dividend. Building on our previous successes and the
continued cultivation of new customers in the communities we serve,
allows us to deliver this important dividend even in these
uncertain times. We are proud to continue the more than 100-year
tradition of meeting the expectations of our owners.”
About TrustCo Bank Corp NY
TrustCo Bank Corp NY is a $6.1 billion savings
and loan holding company. Through its subsidiary, Trustco Bank,
Trustco operates 147 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.
Safe Harbor Statement
All statements in this news release that are not
historical are forward-looking statements within the meaning of the
Securities Exchange Act of 1934, as amended. 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 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 that could cause
actual results to differ materially from those discussed. Examples
of these factors include, but are not limited to, the effect of the
COVID-19 pandemic on our business, financial condition, liquidity
and results of operations; the impact of the actions taken by
governmental authorities to contain COVID-19 or address the impact
of COVID-19 on the economy, 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, as well
as 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.
The forward-looking statements contained in this
news release speak only as of today’s date. TrustCo disclaims any
obligations to update forward-looking statements contained in this
news release or in the above referenced reports, whether as a
result of new information, future events or otherwise.
Subsidiary: Trustco Bank
Contact: |
Robert M.
Leonard |
|
Executive Vice President and Chief Risk Officer |
|
(518) 381-3693 |
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