TrustCo Bank Corp NY: A Beacon of Dividend Consistency in 2025

As we step into the new year, investors are eager to find reliable and consistent sources of income. One company that has consistently delivered on this front is TrustCo Bank Corp NY (TRST), a regional bank with a strong track record of dividend payments. In February 2025, TrustCo announced its first dividend of the year, maintaining its annualized payout of $1.44 per share. This news is a testament to the company's commitment to providing shareholders with a steady stream of income.



TrustCo's dividend history is a shining example of consistency and reliability. The company has made 154 dividend payments since 1986, with the sum of all dividends (adjusted for stock splits) totaling $60.69. This consistency is further highlighted by the company's payout consistency of 92.4%, indicating a strong track record of uninterrupted dividend payments. Additionally, TrustCo's 5-year average dividend growth rate of 1.15% demonstrates a steady increase in payouts, providing investors with a reliable source of income growth.

TrustCo's dividend payout compares favorably to its peers in the banking sector. While its yield of 4.29% may not be the highest, its Yield on Cost of 4.62% indicates that investors who bought TrustCo's shares five years ago are enjoying a higher effective dividend yield. This, coupled with TrustCo's consistent dividend payouts and steady dividend growth, makes it an attractive investment option for income-oriented investors.



TrustCo's dividend payout is supported by the company's strong financial performance. In 2024, TrustCo's revenue was $169.77 million, a decrease of -10.13% compared to the previous year's $188.91 million. However, the company's earnings were $48.83 million, a decrease of -16.73% compared to the previous year's $58.17 million. Despite these decreases, TrustCo's net interest margin increased by 3.7% in the second quarter of 2024, driven by loan growth of 3.8%. This demonstrates the company's ability to maintain and grow its dividend payout, even in the face of economic challenges.

In conclusion, TrustCo Bank Corp NY's dividend history and consistency make it an attractive investment option for income-oriented investors. The company's strong track record of dividend payments, steady dividend growth, and competitive dividend yield contribute to its appeal. As we look ahead to 2025, TrustCo's commitment to maintaining its annualized payout of $1.44 per share is a positive sign for investors seeking a reliable source of income. By investing in TrustCo, you can enjoy the peace of mind that comes with knowing that your investment is backed by a company with a proven track record of dividend consistency and growth.