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Alliance Financial declares quarterly dividend of 31 cents a share

By Adam Rombel


SYRACUSE — Alliance Financial Corp. (NASDAQ: ALNC), the holding company for Alliance Bank, N.A., has declared a quarterly dividend of 31 cents per common share. The dividend is payable on July 2 to shareholders of record on June 18.

The dividend of 31 cents a share is the same amount that Alliance Financial paid in each of the previous three quarters. At its current stock price, the company’s annual dividend yield is about 4 percent. Year to date, through May 30, Alliance shares have increased by about 1 percent in price.

Alliance Financial is an independent financial holding company with Alliance Bank as its principal subsidiary that provides retail and commercial banking, and investment-management services through 29 offices in Cortland, Madison, Oneida, Onondaga and Oswego counties.  Alliance Financial also operates an investment-management administration center in Buffalo, and an equipment-lease financing company, called Alliance Leasing, Inc. 

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