Arrow Declares December Cash Dividend

Rhea-AI Summary

Arrow Financial Corporation (NasdaqGS - AROW) announced a quarterly cash dividend of $0.26 per share, payable on December 15, 2020, to shareholders of record by December 2, 2020. This marks a 3% increase from the previous year's fourth-quarter dividend, following a 3% stock dividend distributed on September 25, 2020. Arrow Financial operates through its banks and subsidiaries to meet financial needs in northeastern New York.

Positive

• Quarterly cash dividend of $0.26 represents a 3% increase over the previous year, indicating growth.
• Confidence in financial stability demonstrated by the increase in dividend.

Negative

• None.

GLENS FALLS, N.Y., Oct. 29, 2020 /PRNewswire/ -- The Board of Directors of Arrow Financial Corporation (NasdaqGS^® - AROW) on October 28, 2020, declared a quarterly cash dividend of $0.26 per share payable December 15, 2020, to shareholders of record December 2, 2020. This represents an increase of 3% over the cash dividend paid in the fourth quarter of 2019, as a result of the 3% stock dividend distributed September 25, 2020.

Arrow Financial Corporation (NasdaqGS® - AROW) is a multi-bank holding company headquartered in Glens Falls, New York, serving the financial needs of northeastern New York. The Company is the parent of Glens Falls National Bank and Trust Company and Saratoga National Bank and Trust Company. Other subsidiaries include North Country Investment Advisers, Inc., and Upstate Agency, LLC, specializing in property and casualty insurance and group health and employee benefits.

The information contained in this news release may contain statements that are not historical in nature but rather are based on management's beliefs, assumptions, expectations, estimates and projections about the future. These statements may be "forward-looking statements" within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, involving a degree of uncertainty and attendant risk. In the case of all forward-looking statements, actual outcomes and results may differ materially from what the statements predict or forecast, explicitly or by implication. The Company undertakes no obligation to revise or update these forward-looking statements to reflect the occurrence of unanticipated events. This News Release should be read in conjunction with the Company's Annual Report on Form 10-K for the year ended December 31, 2019, and our other filings with the Securities and Exchange Commission.

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SOURCE Arrow Financial Corporation

FAQ

What is the dividend amount declared by Arrow Financial Corporation?

Arrow Financial Corporation declared a quarterly cash dividend of $0.26 per share.

When will Arrow Financial's dividend be payable?

The dividend will be payable on December 15, 2020.

What was the increase in the dividend compared to last year?

The dividend increased by 3% compared to the fourth quarter of 2019.

Who is eligible to receive the dividend?

Shareholders of record as of December 2, 2020, are eligible to receive the dividend.

What is Arrow Financial Corporation's stock symbol?

Arrow Financial Corporation's stock symbol is AROW.