DeWITT, N.Y. — Community Bank System, Inc. (NYSE: CBU) recently announced that it has declared a quarterly cash dividend of 42 cents per share on its common stock.
The dividend will be payable on July 9 to shareholders of record as of June 15. The dividend is the same amount that Community Bank paid each of the last three quarters, after it increased the payment from the previous dividend of 41 cents a share.
The current dividend of 42 cents represents an annualized yield of about 2.1 percent, based on Community Bank’s current stock price.
DeWitt–based Community Bank System operates more than 225 branches across upstate New York, northeastern Pennsylvania, Vermont, and western Massachusetts through its banking subsidiary, Community Bank, N.A. With assets of about $14.6 billion, the banking company is among the nation’s 125 biggest financial institutions. The company also provides financial planning, insurance, and wealth-management services through its Community Bank Wealth Management Group and OneGroup NY, Inc. operating units.