TrustCo Bank Corp NY Raises Quarterly Dividend to $0.40

TrustCo Bank Corp NY (Nasdaq: TRST) raised its quarterly dividend to $0.40 per share from $0.38, an increase of 5.26%. The financial-services company’s shares had an ex-dividend date of Sept. 4, 2026.

The new rate equates to an annual dividend of $1.60 per share. Based on a share price of $56.67, the stock carries a forward annual yield of 2.83%.

The increase begins a one-year consecutive dividend-growth streak. TrustCo previously reduced its dividend in 2009, making the latest action notable as a renewed step higher in its payout rather than part of a long uninterrupted record of annual increases.

Management tied the higher dividend to earnings and balance-sheet strength, saying its capital position supports both the increased payout and an ongoing share-repurchase program. The board’s decision reflects a broader capital-allocation strategy that combines cash distributions with reductions in shares outstanding. TrustCo’s dividend announcement

The increase followed improved second-quarter operating results. TrustCo reported net income of $17.0 million, up 12.8% from the prior-year period, while net interest income rose 9.2% to $45.6 million. The bank attributed the improvement partly to higher-yielding loans replacing lower-yielding assets, along with deposit growth and lower funding costs. Its net interest margin expanded to 2.87% from 2.71%. TrustCo’s second-quarter results

TrustCo is a savings-and-loan holding company operating through Trustco Bank. Its network spans New York, New Jersey, Vermont, Massachusetts and Florida, while its wealth-management business provides investment, retirement, trust and estate-administration services. The company’s latest quarterly filing also identifies Trustco Bank as its principal subsidiary. TrustCo’s second-quarter Form 10-Q

What it means for income investors

The increase lifts quarterly cash income by $0.02 per share and raises annualized income to $1.60 per share. SmarterDividends assigns the payout a safety score of 88 out of 100, equivalent to an A grade. That measure indicates a comparatively strong dividend-safety profile, although the payment remains subject to future board declarations and changes in the bank’s earnings, capital needs and regulatory position.