DeWITT— Community Bank System, Inc. (NYSE: CBU) announced that it has declared a quarterly cash dividend of 41 cents a share on its common stock.
The dividend will be payable on Jan. 10 to shareholders of record as of Dec. 13. The dividend is the same amount that Community Bank paid last quarter, when it increased the payment by 8 percent from the previous dividend of 38 cents per share.
The new dividend of 41 cents represents an annualized yield of about 2.45 percent, based on Community Bank’s current stock price.
Community Bank System operates more than 230 branches across upstate New York, northeastern Pennsylvania, Vermont, and western Massachusetts through its banking subsidiary, Community Bank, N.A. With assets of about $11.5 billion, the banking company is among the nation’s 150 biggest financial institutions.