Federal Home Loan Bank of New York declares 4.75% dividend for the first quarter of 2021
NEW YORK, May 28, 2021 / PRNewswire / – The Federal Home Loan Bank of New York (“FHLBNY”) is pleased to announce that, the May 28, 2021, its board of directors approved a dividend for the first quarter of 2021 of 4.75% (annualized). The dollar amount of the dividend will be approximately $ 62.2 million. The cash dividend will be distributed to member financial institutions on June 1, 2021.
“As our region continues to recover, the Federal Home Loan Bank of New York remains a stable and reliable partner for our members, as evidenced by our ability to provide a reasonable return on our members’ investment in our cooperative despite the continued pressures affecting our operating environment ”, said José R. González, President and Chief Executive Officer of the FHLBNY. “Our members are truly a vital and engaged part of every community in our district and essential to the recovery of our region.”
The health and economic crises resulting from COVID-19 are unpredictable and can affect the environment in which the FHLBNY operates. Changes in market and business conditions can have a negative impact on the financial performance and level of dividends of FHLBNY. FHLBNY will continue to assess the potential effects of changes in the environment on its financial performance and dividend strategy.
The FHLBNY filed its Form 10-Q for the first quarter of 2021 with the United States Securities and Exchange Commission on May 12, 2021.
Federal Mortgage Bank of New York
The Federal Mortgage Bank of New York is a congressionally licensed wholesale bank. It is part of the Federal Home Loan Bank System, a national wholesale banking network of 11 regional banks owned by shareholders. From March 31, 2021, the FHLBNY serves 322 financial institutions in New Jersey, New York, Porto Rico, and the US Virgin Islands. The Federal Home Loan Banks support the efforts of local members to help provide financing to American homebuyers.
Safe Harbor Declaration under the Private Securities Litigation Reform Act 1995
This report may contain forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements are based on our current expectations and speak only as of the date hereof. These statements may use forward-looking terms, such as “projected”, “expects”, “may” or their negatives or other variations on such terms. The Bank cautions that, by their nature, forward-looking statements involve risks or uncertainties and that actual results could differ materially from those expressed or implied in such forward-looking statements or could affect the extent to which an objective, projection , an estimate, or the prediction is made. These forward-looking statements involve risks and uncertainties, including, but not limited to, the risk factors set forth in our annual reports on Form 10-K and our quarterly reports on Form 10-Q filed with the SEC, as well. as in rule adjustments or requirements, changes in interest rates, changes in projected business volumes, changes in prepayment speeds on mortgage assets, the cost of our funding, changes in our profile of members, the withdrawal of one or more important members, competitive pressures, changes in demand for our products and general economic conditions. Forward-looking statements speak only as of the date they are made, and we assume no obligation to publicly revise or update any forward-looking statements for any reason.
SOURCE Federal Home Loan Bank of New York