DeWITT, N.Y. — Community Bank System, Inc. (NYSE: CBU) announced it will pay shareholders a quarterly cash dividend of 44 cents per share of its common stock on Oct. 10. The dividend, which is payable to shareholders of record as of Sept. 15, represents a rise of 1 cent, or 2.3 percent, over last quarter’s […]
DeWITT, N.Y. — Community Bank System, Inc. (NYSE: CBU) announced it will pay shareholders a quarterly cash dividend of 44 cents per share of its common stock on Oct. 10.
The dividend, which is payable to shareholders of record as of Sept. 15, represents a rise of 1 cent, or 2.3 percent, over last quarter’s payment.
This increase marks the 30th straight year in which Community Bank System has boosted its dividend. At the company’s current stock price, the new dividend yields about 2.45 percent on an annual basis.
“In recognition of the continued strength of our current operating performance, capital position, and confidence in the future of the Company, the Board of Directors has voted to increase the quarterly dividend for the 30th consecutive year,” Mark E. Tryniski, president and CEO of the DeWitt–based banking company, said in a news release.
Community Bank System has total assets of more than $15.4 billion and operates more than 220 branches across upstate New York, northeastern Pennsylvania, Vermont, and western Massachusetts through its banking subsidiary, Community Bank, N.A. About 60 of its branches are in the 16-county Central New York region.
In addition to the full range of retail, business, and municipal-banking services, the company offers comprehensive financial planning, insurance, and wealth-management services through its Community Bank Wealth Management Group and OneGroup NY, Inc. operating units. The company’s Benefit Plans Administrative Services, Inc. subsidiary is a provider of employee-benefits administration, trust services, collective investment-fund administration, and actuarial consulting services to customers nationwide.
