Hudson Valley Holding Corp. Announces Cash Dividend
YONKERS, N.Y., April 28 /PRNewswire-FirstCall/ -- William E. Griffin, Chairman of the Board of Hudson Valley Holding Corp. (Nasdaq: HUVL), announced that the Board of Directors has declared a cash dividend of $ 0.23 per share payable to all common stock shareholders of record as of the close of business May 10, 2010. The dividend will be distributed to shareholders on or about May 21, 2010.
Griffin stated, "This dividend is a reflection that we remain committed to our business plan and we are optimistic of our future positive results over the long-term."
Hudson Valley Holding Corp. (HUVL), headquartered in Yonkers, NY, is the parent company of Hudson Valley Bank (HVB). Hudson Valley Bank is a Westchester based bank with more than $2.8 billion in assets, serving the metropolitan area with 36 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. 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 can be obtained on their web-site at www.hudsonvalleybank.com.
This press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements that are not historical facts. These statements relate 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 involve known and unknown risks, uncertainties and other factors that may cause our actual results, level of activity, performance or achievements to be materially different from our 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, but are not limited to:
- a continued or unexpected decline in the economy in the New York Metropolitan area;
- increases in loan losses or in the level of nonperforming loans;
- unexpected increases in our allowance for loan losses;
- our failure to maintain required regulatory capital levels;
- further declines in value in our investment portfolio;
- a continued or unexpected decline in real estate values within our market areas;
- higher than expected FDIC insurance premiums;
- unexpected changes in interest rates;
- additional regulatory oversight which may require us to change our business model;
- the imposition on us of liabilities under federal or state environmental laws;
- those risk factors identified in our SEC filings, including our Form 10-K for the fiscal year ended December 31, 2009.
Forward looking statements speak only as of the date such statements are made. The Company undertakes no duty to update any forward-looking statement to conform the statement to actual results or changes in the Company's expectations.
SOURCE Hudson Valley Holding Corp.
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