YONKERS, N.Y., Nov. 3 /PRNewswire-FirstCall/ -- William E. Griffin, Chairman of the Board of Hudson Valley Holding Corp., announced that the Board of Directors has declared a cash dividend of $0.23 per share payable to all shareholders of record as of the close of business November 13, 2009. The dividend will be distributed to shareholders on or about November 27, 2009.
Griffin stated, "While the dividend has been reduced on a per share basis, as a result of the shares issued in our underwritten common stock offering completed October 30, 2009, the total amount of the cash dividend distributed to shareholders has remained constant. We were pleased with our third quarter financial performance which is reflected in this dividend distribution to our shareholders."
About Hudson Valley Holding Corp.
Hudson Valley Holding Corp. (HUVL), headquartered in Yonkers, NY, is the parent company of two independently owned local banks, Hudson Valley Bank (HVB) and New York National Bank (NYNB). Hudson Valley Bank is a Westchester based bank with more than $2.4 billion in assets, serving the metropolitan area with 33 branches located in Westchester, Rockland, the Bronx, Manhattan, Queens and Brooklyn in New York and Fairfield County and New Haven County, in Connecticut. HVB specializes in providing a full range of financial services to businesses, professional services firms, not-for-profit organizations and individuals; and provides investment management services through a subsidiary, A. R. Schmeidler & Co., Inc. NYNB is a Bronx based bank with approximately $140 million in assets serving the local communities of the Bronx and Upper Manhattan with three branches. NYNB provides a full range of financial services to individuals, small businesses and not-for-profit organizations in its local markets. Hudson Valley Holding Corp.'s common stock is traded on the NASDAQ Global Select Market under the ticker symbol "HUVL". Additional information on Hudson Valley Bank and NYNB Bank can be obtained on their respective web-sites at http://www.hudsonvalleybank.com/ and http://www.nynb.com/.
This press release contains forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements refer to future events or our future financial performance. We have attempted to identify forward-looking statements by terminology including "anticipates," "believes," "can," "continue," "expects," "intends," "may," "plans," "potential," "predicts," "should" or "will" or the negative of these terms or other comparable terminology. These statements are only predictions and involve known and unknown risks, uncertainties and other factors that may cause our or the banking industry's actual results, level of activity, performance or achievements to be materially different from any future results, level of activity, performance or achievements expressed or implied by these forward-looking statements. Factors that may cause actual results to differ materially from those contemplated by such forward-looking statements include those identified in our Quarterly Report on Form 10-Q for the quarter ended September 30, 2009.
Hudson Valley Holding Corp.
CONTACT: James J. Landy, President & CEO, +1-914-771-3230, or Wendy
Croker, First VP, Shareholder Relations, +1-914-771-3214
Web Site: http://www.hudsonvalleybank.com/
