Valley National Bancorp 5.50% Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series B

By: ,

Date Issued   7/27/2017

Shares Issued   7,000,000  Overallotment Shares  600,000

S&P Rating   BB+   Moodys Rating   NR


Security Ticker Symbol   VLY-B  OTC Temp Ticker  VLYYP

Market Traded On   NYSE

Dividend Payment Paid on the 30th of  March, June, September and December beginning on 9/30/2017

Quarterly Dividend   .344   Annual Dividend   1.375

Beginning 9/30/2022 the coupon will float at the rate of 3 month Libor plus a fixed base of 3.578%


Securities may be redeemed, at the issuers option, as early as 9/30/2022 for a redemption price of $25/share plus accrued dividends.

Dividend Payment Will BE  a Qualified Distribution

Dividends will not be cumulative.

Maturity Date   None

Company Investor Relations Page for Valley National Bancorp

Click here to find the offering Prospectus and/or Final Pricing Document

Tim McPartland

Connect with Tim McPartland

Tim McPartland
Tim McPartland is a private investor with over 45 years of investing experience. His analysis, research and writing is devoted to the hunt for income producing securities of all types, but in particular specializing in preferred stocks, exchange traded debt and Master Limited Partnerships.
Search Dividend Investor