DeWITT — Community Bank System, Inc. (NYSE: CBU) today announced it has declared a quarterly cash dividend of 28 cents per share on its common stock, up one cent from last quarter and the year-ago period.
The new dividend is payable on Oct. 10 to shareholders of record as of Sept. 16, the banking company said in a news release.
The dividend represents an annualized yield of 3.25 percent based on Community Bank’s closing share price of $34.41 on Aug. 20, the banking company said.
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This increase marks the 21st consecutive year of dividend increases for shareholders of Community Bank System.
“The increase reflects the continued strength of both our current operating performance and capital position,” Mark Tryniski, president and CEO of Community Bank System, said in the news release.
Headquartered in DeWitt, Community Bank System has more than $7 billion in total assets and more than 180 customer offices.
Contact Reinhardt at ereinhardt@cnybj.com
