Sterling Bancorp Declares Quarterly Dividend on Preferred Stock

PEARL RIVER, N.Y., Dec. 14, 2020 (GLOBE NEWSWIRE) -- Sterling Bancorp (NYSE: STL), the parent company of Sterling National Bank, today announced that the Board of Directors has declared a quarterly cash dividend of $16.25 per share ($0.40625 per each depositary share) on its 6.50% Series A Non-Cumulative Perpetual Preferred stock (NYSE: STLPRA). The dividend is payable January 15, 2021 to shareholders of record as of December 31, 2020.

About Sterling Bancorp

Sterling Bancorp, whose principal subsidiary is Sterling National Bank, specializes in the delivery of service and solutions to business owners, their families and consumers within the communities we serve through teams of dedicated and experienced relationship managers. Sterling National Bank offers a complete line of commercial, business, and consumer banking products and services. For more information, visit the Sterling Bancorp website at www.sterlingbancorp.com.

STERLING BANCORP CONTACT:Emlen Harmon, SVP – Director of Investor Relations212.309.7646

Sterling BancorpTwo Blue Hill Plaza, Second FloorPearl River, NY 10965

T 845.369.8040F 845.369.8255

http://www.sterlingbancorp.com

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