DeWITT — Community Bank System, Inc. (NYSE: CBU) announced that its board of directors has declared a quarterly cash dividend of 34 cents a share on its common stock. It will be payable on Jan. 10, to shareholders of record as of Dec. 15.
The dividend is the same amount that Community Bank paid last quarter, when it boosted the quarterly payment by 2 cents a share. The DeWitt–based banking company has hiked its dividend for 25 straight years.
The dividend represents an annualized yield of about 2.6 percent, based on the company’s current stock price.
Community Bank System operates more than 230 branches across upstate New York, Northeastern Pennsylvania, Vermont, and Massachusetts through its banking subsidiary, Community Bank, N.A. It has total assets of about $10.8 billion, ranking it among the nation’s 150 largest financial institutions.