Valley National Bancorp Holds Annual Meeting of Shareholders
WAYNE, N.J., April 15 /PRNewswire-FirstCall/ -- Valley National Bancorp (NYSE: VLY)("Valley") held its Annual Meeting of Shareholders at the Crowne Plaza Hotel in Fairfield, New Jersey on April 14, 2009.
The following proposals were approved by the shareholder's and announced at the meeting:
The election of 15 directors - an average of 94.70% of the total shares cast voted in favor of the 15 directors.
Ratification of the appointment of KPMG LLP as Valley's independent registered public accounting firm for the fiscal year ending December 31, 2009 - 98.28 % of the total shares cast voted in favor of the ratification.
Approval of Valley's 2009 Long-Term Stock Incentive Plan - 85.33% of the total shares cast were voted in favor of the plan.
Non-binding approval of the compensation of Valley's named executive officers as determined by the Compensation and Human Resources Committee - 82.25% of total shares cast voted in favor of the approval.
In addition, Valley's Board of Directors approved a five percent stock dividend payable May 22, 2009, to shareholders of record on May 8, 2009. Valley has declared a stock dividend or stock split for 18 straight years, since 1992.
About Valley
Valley is a largest regional bank holding company, headquartered in Wayne, New Jersey, with $14.7 billion in assets. Its principal subsidiary, Valley National Bank, currently operates 194 branches in 132 communities serving 14 counties throughout northern and central New Jersey and Manhattan, Brooklyn and Queens.
For more information about Valley National Bank and its products and services, please visit www.valleynationalbank.com or call Customer Service 24/7 at 1-800-522-4100.
