DeWITT, N.Y. — Community Bank System, Inc. (NYSE: CBU) announced that it has increased its quarterly cash dividend by 8 percent to 41 cents per share on its common stock from the previous 38 cents a share.
The dividend will be payable on Oct. 10 to shareholders of record as of Sept. 16, the DeWitt–based banking company said in a news release.
At Community’s current stock price, the dividend yields nearly 2.7 percent on an annual basis.
(Sponsored)
How Does New York State’s Clean Slate Act Impact You?
On November 16, 2023, Governor Hochul signed into law the Clean Slate Act which automatically seals criminal records for certain crimes. The law (effective next year), provides that misdemeanors are
New Sexual Harassment Policy and Training Requirements. Does Your Policy Comply?
New York State requires all employers to provide annual sexual harassment prevention training and a harassment policy to its employees. This requirement applies to all employees, including hourly and salaried,
This marks the 27th straight year of dividend increases for Community Bank System.
“The payment of a meaningful and growing dividend is an important component of our commitment to provide consistent and favorable long term returns to our shareholders. The increase reflects the continued strength of both our current operating performance and capital position,” Mark E. Tryniski, company president and CEO, said in the release.
Community Bank System operates more than 230 branches across upstate New York, northeastern Pennsylvania, Vermont, and western Massachusetts through its banking subsidiary, Community Bank, N.A. With assets of more than $11 billion, the banking company is among the nation’s 150 biggest financial institutions.
Contact Rombel at arombel@cnybj.com
