Community Bank System, Inc. Announces Quarterly Dividend

Rhea-AI Summary

Community Bank System, Inc. (NYSE: CBU) has declared a quarterly cash dividend of $0.44 per share, payable on January 10, 2023, to shareholders of record as of December 15, 2022. This dividend yields an annualized rate of 2.69% based on the closing price of $65.38 on November 15, 2022. Operating over 210 facilities across Upstate New York and neighboring states, the company boasts assets exceeding $15.5 billion, ranking among the top 125 banking institutions in the U.S.

Positive

• Quarterly cash dividend of $0.44 per share announced.
• Annualized yield of 2.69% based on recent closing price.
• Company operates over 210 customer facilities.
• Assets exceed $15.5 billion, positioning among largest banks in the U.S.

Negative

• Economic uncertainties and competition may impact future performance.

SYRACUSE, N.Y.--(BUSINESS WIRE)-- Community Bank System, Inc. (NYSE: CBU) (the “Company”) announced that it has declared a quarterly cash dividend of $0.44 per share on its common stock. The dividend will be payable on January 10, 2023 to shareholders of record as of December 15, 2022. The $0.44 cash dividend represents an annualized yield of 2.69% based on the closing share price of $65.38 on November 15, 2022.

Community Bank System, Inc. operates more than 210 customer facilities across Upstate New York, Northeastern Pennsylvania, Vermont, and Western Massachusetts through its banking subsidiary, Community Bank, N.A. With assets of over $15.5 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. Forward-looking statements can be identified by the use of the words “will,” “anticipate,” “expect,” “intend,” “estimate,” “target,” and words of similar import. Forward-looking statements are not historical facts but instead express only management’s current beliefs regarding future results or events, many of which, by their nature, are inherently uncertain and outside of management’s control. The following factors, among others listed in Company’s Form 10-K and Form 10-Q filings, could cause the actual results of the Company’s operations to differ materially from the Company’s expectations: the effect of the COVID-19 pandemic, including the negative impacts and disruptions on public health, corporate and consumer customers, the communities CBU serves, and the domestic and global economy, including various actions taken in response by governments, central banks and others, which may have an adverse effect on CBU’s business; 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. The Company does not assume any duty to update forward-looking statements.

View source version on businesswire.com: https://www.businesswire.com/news/home/20221116006046/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 for Q4 2022?

The dividend amount for Q4 2022 is $0.44 per share.

When will the CBU dividend be paid?

The CBU dividend will be payable on January 10, 2023.

What is the yield of the CBU dividend?

The annualized yield for the CBU dividend is 2.69%.

Who qualifies for the CBU dividend?

Shareholders of record as of December 15, 2022, qualify for the CBU dividend.