DeWITT, N.Y. — Community Bank System, Inc. (NYSE: CBU) has increased its quarterly cash dividend to 31 cents per share on its common stock from 30 cents last quarter.
The dividend will be payable on Oct. 9, 2015 to shareholders of record as of Sept. 15.
The one-cent increase marks the 23rd straight year of dividend increases for the banking company.
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“The increase reflects the continued strength of both our current operating performance and capital position,” Mark E. Tryniski, president and CEO of Community Bank, said in a news release.
Community Bank System operates more than 190 branches across upstate New York and northeastern Pennsylvania through its banking subsidiary, Community Bank, N.A. With assets of about $7.9 billion, the DeWitt–based company is among the country’s 150 largest financial institutions.
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