ELMIRA, N.Y. — Chemung Financial Corp. (NASDAQ: CHMG) recently announced that its board of directors has approved a quarterly cash dividend of 31 cents a share of its common stock. The banking company will pay the dividend on April 3, to shareholders of record as of the close of business on March 20. At Chemung […]
ELMIRA, N.Y. — Chemung Financial Corp. (NASDAQ: CHMG) recently announced that its board of directors has approved a quarterly cash dividend of 31 cents a share of its common stock.
The banking company will pay the dividend on April 3, to shareholders of record as of the close of business on March 20.
At Chemung Financial’s current stock price, the payment yields about 2.5 percent on an annual basis.
Chemung Financial is a $2.6 billion financial-services holding company headquartered in Elmira. It generated $28.8 million in net income in 2022, up almost 9 percent from $26.4 million in 2021.
The company operates 31 offices through its main subsidiary, Chemung Canal Trust Company, a full-service community bank with full trust powers. Founded in 1833, Chemung Canal Trust says it is the oldest locally owned and managed community bank in New York state.
Chemung Financial is also the parent of CFS Group, Inc., a financial-services subsidiary offering non-traditional services including mutual funds, annuities, brokerage services, tax-preparation services, and insurance, as well as Chemung Risk Management, Inc., an insurance company based in Nevada.
