Tompkins Financial pays Q2 dividend of 57 cents

ITHACA, N.Y. — Tompkins Financial Corp. (NYSE: TMP) recently announced that its board of directors approved payment of a regular quarterly cash dividend of 57 cents per share for the second quarter. 

The dividend is payable on May 16, to common shareholders of record on May 10. The dividend is the same amount that the Ithaca–based banking company paid in both the first quarter and last year’s fourth quarter, when it increased its quarterly payment by 5.6 percent from the 54 cents a share it paid in the third quarter.

At Tompkins Financial’s current stock price, the dividend yields just about 3.1 percent on an annual basis.

Tompkins Financial separately announced that it generated net income of $23.3 million in the first quarter of this year, down 9.2 percent from
$25.6 million in the same quarter in 2021. The banking company produced earnings per share of $1.60 in the first quarter, off 7 percent from $1.72 in the year-ago quarter. Reduced income from Paycheck Protection Program (PPP) loans and a smaller recapture to the provision for credit losses in the latest quarter were the primary contributors to the reduced earnings when compared to the same quarter last year, the earnings report stated.

Tompkins Financial is a banking and financial-services company serving the Central, Western, and Hudson Valley regions of New York and the Southeastern region of Pennsylvania. Tompkins Financial is parent to Tompkins Community Bank, Tompkins Insurance Agencies, Inc., and offers wealth-management services through Tompkins Financial Advisors.