Financial holding company Sterling Bancorp (NYSE:STL) announced today its third-quarter dividend of $0.09 per share, the same rate it's paid since 2009, when it slashed the payout 53% during the depths of the recession. Even so, this dividend marks the 272nd consecutive quarter it has made a payout over the past 68 years.
The board of directors said the quarterly dividend is payable on October 30 to holders of record at the close of business on October 15. The regular dividend payment equates to a $0.36-per-share annual dividend, yielding 2.6% based on the closing price today of Sterling Bancorp's stock.
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