Community Bank System to pay Q2 dividend of 44 cents per share in July

DeWITT, N.Y. — Community Bank System, Inc. (NYSE: CBU) — parent company of Community Bank, N.A. — announced that it has declared a cash dividend of 44 cents a share on its common stock for the second quarter.

The dividend will be payable on July 10, to shareholders of record as of June 15. 

The quarterly payment represents an annualized yield of about 3.7 percent, based on Community Bank System’s current stock price.

The banking company also announced that its shareholders voted in line with the Community board of directors’ recommendations on all proposals at its annual shareholders’ meeting on May 17, and elected all 12 of the directors standing for re-election for a one-year term. The shareholders also approved, on an advisory basis, the company’s executive-compensation programs, approved, on an advisory basis, to hold future say-on-pay votes every year, and ratified the appointment of PricewaterhouseCoopers LLP to serve as Community’s independent registered public accounting firm.

DeWitt–based Community Bank System has total assets of more than $15.2 billion and is among the nation’s 125 largest banks. Community Bank operates more than 200 branches across upstate New York, northeastern Pennsylvania, Vermont, and western Massachusetts.