ITHACA, N.Y. — Tompkins Financial Corp. (NYSE: TMP) announced that it has raised its quarterly dividend for a second time in as many quarters.
The Ithaca–based banking company’s board of directors has approved payment of a regular cash dividend of 48 cents a share, payable on Feb. 15 to common shareholders of record on Feb. 6.
That’s up from the 47 cents per share that Tompkins Financial paid in the fourth quarter of last year, when the banking company raised its dividend from the 45 cents it paid in the third quarter.
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The new dividend amount yields about 2.3 percent on an annual basis.
Tompkins Financial is a financial-services company, with $6.6 billion in total assets, serving the Central, Western, and Hudson Valley regions of New York and the Southeastern region of Pennsylvania. Tompkins Financial is parent of Tompkins Trust Company, Tompkins Bank of Castile, Tompkins Mahopac Bank, Tompkins VIST Bank, Tompkins Insurance Agencies, Inc., and offers wealth-management services through Tompkins Financial Advisors.
Tompkins Trust is the number one bank in the Ithaca metro area — ranked by deposit market share, with a more than 62 percent share of all market deposits — according to FDIC statistics.
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