Printer Friendly

VALLEY NATIONAL BANCORP BOARD OF DIRECTORS DECLARES INCREASED REGULAR QUARTERLY DIVIDEND

 WAYNE, N.J., Nov. 18 ~PRNewswire~ -- For the second time this year, the Valley National Bancorp (NASDAQ: VNBP) Board of Directors has increased the regular quarterly dividend. At its regular monthly meeting held yesterday (Nov. 17), the Board increased the dividend from $.24 to $.25 per share, a 4 percent increase. The dividend is payable Jan. 4, 1993, to shareholders of record Dec. 11, 1992.
 "We're pleased to report the dividend increase, which, when combined with the earlier increase this past March, represents a total of 10.4 percent above last year's dividend rate," said Valley National Chairman and Chief Executive Officer Gerald H. Lipkin.
 During the first nine months of 1992, Valley earned $31.5 million, 44 percent above the $21.9 million earned during the comparable 1991 period.
 Lipkin added, "Valley's strong market position in northeastern New Jersey will be further enhanced as a result of our proposed acquisition of the $210 million Peoples BanCorp, which was announced last week." Headquartered in Fairfield, N.J., Peoples operates seven branches in Essex County -- in Belleville, Bloomfield, Fairfield and North Caldwell. The merger requires approval from the Comptroller of the Currency and the Federal Reserve and is subject to the signing of a definitive agreement and the approval of Peoples shareholders.
 With $3.1 billion in assets, Valley National Bancorp operates 53 branches in Bergen, Essex, Hudson, Morris and Passaic counties.
 -0- 11~18~92
 ~CONTACT: John Harris of Valley National Bancorp, 201-305-4014, or Ilene Manahan of The Marcus Group, 201-902-9000, for Valley National Bancorp~
 (VNBP)


CO: Valley National Bancorp ST: New Jersey IN: FIN SU: DIV

LR -- NY020 -- 2228 11~18~92 10:06 EST
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Nov 18, 1992
Words:276
Previous Article:WESTERN UNION LAUNCHES SECURED MASTERCARD; NEW WESTERN UNION MASTERCARD WILL HELP MILLIONS OF CONSUMERS TO ESTABLISH CREDIT
Next Article:VARLEN MAINTAINS RECOVERY; EARNINGS UP 92 PERCENT FOR THIRD QUARTER; TRANSPORTATION SEGMENT CONTINUES TO PACE GAINS
Topics:


Related Articles
SECURITY BANCORP, INC. ANNOUNCES COMMON AND PREFERRED DIVIDENDS
INDEPENDENCE BANCORP DECLARES QUARTERLY DIVIDEND
SECURITY BANCORP, INC. ANNOUNCES COMMON AND PREFERRED DIVIDENDS
VALLEY NATIONAL BANCORP DECLARES 3 FOR 2 COMMON STOCK SPLIT; INCREASES CASH DIVIDEND 5.9 PERCENT
INDEPENDENCE BANCORP DECLARES QUARTERLY DIVIDEND
REPUBLIC BANCORP DECLARES COMMON STOCK CASH DIVIDEND AND STOCK DIVIDEND
INDEPENDENCE BANCORP DECLARES QUARTERLY DIVIDEND
TRANS FINANCIAL DECLARES DIVIDEND
EAGLE BANCORP, INC. ANNOUNCES SPECIAL DIVIDEND AND INCREASE IN REGULAR QUARTERLY DIVIDEND
VALLEY NATIONAL BANCORP DECLARES 5 FOR 4 COMMON STOCK SPLIT; INCREASES CASH DIVIDEND 10 PERCENT PRIOR TO ANNUAL MEETING OF STOCKHOLDERS

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters