Community Bank System, Inc. Announces Quarterly Dividend

Rhea-AI Summary

Community Bank System, Inc. (NYSE: CBU) has declared a quarterly cash dividend of $0.43 per share, payable on January 10, 2022, to shareholders of record as of December 15, 2021. This dividend reflects an annualized yield of 2.34% based on the share price of $73.59 on November 17, 2021. The bank operates over 215 locations across multiple states and has assets exceeding $15.3 billion.

Positive

• Quarterly cash dividend of $0.43 enhances shareholder income.
• Annualized yield of 2.34% attractive for investors.

Negative

• None.

SYRACUSE, N.Y.--(BUSINESS WIRE)-- Community Bank System, Inc. (NYSE: CBU) (the “Company”) announced that it has declared a quarterly cash dividend of $0.43 per share on its common stock. The dividend will be payable on January 10, 2022 to shareholders of record as of December 15, 2021. The $0.43 cash dividend represents an annualized yield of 2.34% based on the closing share price of $73.59 on November 17, 2021.

Community Bank System, Inc. operates more than 215 customer facilities across Upstate New York, Northeastern Pennsylvania, Vermont, and Western Massachusetts through its banking subsidiary, Community Bank, N.A. With assets of over $15.3 billion, the DeWitt, N.Y. headquartered company is among the country’s 125 largest banking institutions. In addition to a full range of retail, business, and municipal banking services, the Company offers comprehensive financial planning, insurance and wealth management services through its Community Bank Wealth Management Group and OneGroup NY, Inc. operating units. The Company’s Benefit Plans Administrative Services, Inc. subsidiary is a leading provider of employee benefits administration, trust services, collective investment fund administration and actuarial consulting services to customers on a national scale. Community Bank System, Inc. is listed on the New York Stock Exchange and the Company’s stock trades under the symbol CBU. For more information about Community Bank visit www.cbna.com or https://ir.communitybanksystem.com.

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The following factors, among others, could cause the actual results of CBU’s operations to differ materially from CBU’s expectations: the successful integration of operations of its acquisitions; competition; changes in economic conditions, interest rates and financial markets; and changes in legislation or regulatory requirements. These statements are based on the current beliefs and expectations of CBU’s management and CBU does not assume any duty to update forward-looking statements.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211118005458/en/

Joseph E. Sutaris, EVP & Chief Financial Officer

Office: (315) 445-7396

Source: Community Bank System, Inc.

FAQ

What is the dividend amount for CBU?

Community Bank System, Inc. has declared a quarterly cash dividend of $0.43 per share.

When will CBU's dividend be paid?

The dividend will be paid on January 10, 2022.

What is the yield on CBU's dividend?

The annualized yield is 2.34% based on a closing share price of $73.59 on November 17, 2021.

Who is eligible for the CBU dividend?

Shareholders of record as of December 15, 2021, are eligible for the dividend.