Sterling Bancorp Declares Cash Dividend of $0.09 per Share

NEW YORK, July 19, 2013 /PRNewswire/ -- Sterling Bancorp (NYSE: STL), a financial holding company headquartered in New York City and the parent company of Sterling National Bank, today announced that the Company's Board of Directors has declared a cash dividend of $0.09 per common share, payable on August 15, 2013 to shareholders of record as of August 1, 2013.  This declaration extends the Company's history of continuous cash dividends to 271 consecutive quarters or more than 67 years.

The Company stated that it has accelerated its dividend record and payment dates in connection with the planned merger with Provident New York Bancorp ("Provident"), so that the record and payment dates of Sterling Bancorp's quarterly dividends would be consistent with the record and payment dates for Provident Bancorp's quarterly dividends.

About Sterling Bancorp

Sterling Bancorp (NYSE: STL) is a New York City-based financial corporation with assets of $2.7 billion. Since 1929, Sterling National Bank, the Company's principal banking subsidiary, has successfully served the needs of businesses, professionals and individuals in the NY metropolitan area and beyond. Sterling is well-known for its high-touch, hands-on approach to customer service and a special focus on serving the business community.

Sterling provides clients with a full range of depository and cash management services and a broad portfolio of financing solutions—including working capital lines, accounts receivable and inventory financing, factoring, trade financing, payroll funding and processing, equipment financing, commercial and residential mortgages and mortgage warehouse lines of credit.

SOURCE Sterling Bancorp