TrustCo Bank Corp NY (NASDAQ:TRST) Increases Dividend to $0.38 Per Share

Key Points

• TrustCo Bank Corp NY has announced an increase in its quarterly dividend to $0.38 per share, representing a 5.6% increase from the previous dividend of $0.36.
• The dividend will be paid on October 1st to investors of record as of September 5th, which results in an annualized dividend yield of 4.3%.
• Despite the dividend increase, the stock price recently dipped 0.2% to $35.36, and the company reported a net margin of 19.84% in its latest earnings report.

TrustCo Bank Corp NY (NASDAQ:TRST - Get Free Report) announced a quarterly dividend on Tuesday, August 19th, RTT News reports. Investors of record on Friday, September 5th will be paid a dividend of 0.38 per share by the bank on Wednesday, October 1st. This represents a c) annualized dividend and a dividend yield of 4.3%. This is a 5.6% increase from TrustCo Bank Corp NY's previous quarterly dividend of $0.36.

TrustCo Bank Corp NY Stock Down 0.2%

Shares of TRST traded down $0.08 during mid-day trading on Tuesday, hitting $35.36. The stock had a trading volume of 69,352 shares, compared to its average volume of 100,310. The company has a market cap of $666.54 million, a PE ratio of 12.58 and a beta of 0.70. The company's fifty day simple moving average is $33.88 and its two-hundred day simple moving average is $32.03. TrustCo Bank Corp NY has a fifty-two week low of $27.18 and a fifty-two week high of $38.89.

TrustCo Bank Corp NY (NASDAQ:TRST - Get Free Report) last released its quarterly earnings results on Monday, July 21st. The bank reported $0.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.10. TrustCo Bank Corp NY had a return on equity of 7.85% and a net margin of 19.84%.The company had revenue of $46.60 million during the quarter, compared to analysts' expectations of $46.16 million.

About TrustCo Bank Corp NY

TrustCo Bank Corp NY operates as the holding company for Trustco Bank, a federal savings bank that provides personal and business banking services to individuals and businesses. The company accepts deposits; and offers loans and investments. It also operates as a real estate investment trust that acquires, holds, and manages real estate mortgage assets, including residential mortgage loans and mortgage-backed securities.

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