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 April 11, 2022, to shareholders of record as of March 15, 2022. This dividend represents an annualized yield of 2.35% based on the closing share price of $73.29 on February 15, 2022. The bank operates over 215 customer facilities across Upstate New York, Northeastern Pennsylvania, Vermont, and Western Massachusetts, holding assets exceeding $15.5 billion.

Positive

• Quarterly cash dividend of $0.43 enhances shareholder income.
• Annualized yield of 2.35% based on recent share price.
• Strong asset base of over $15.5 billion supports financial stability.

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 April 11, 2022 to shareholders of record as of March 15, 2022. The $0.43 cash dividend represents an annualized yield of 2.35% based on the closing share price of $73.29 on February 15, 2022.

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 $15.5 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. 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/20220216006184/en/

Joseph E. Sutaris, EVP & Chief Financial Officer

(315) 445-7396

Source: Community Bank System, Inc.

FAQ

What is the dividend amount declared by Community Bank System (CBU)?

Community Bank System (CBU) declared a cash dividend of $0.43 per share.

When will the dividend be paid to shareholders of CBU?

The dividend will be paid on April 11, 2022.

What is the record date for the CBU dividend payment?

The record date for the dividend payment is March 15, 2022.

What is the annualized yield of the dividend for CBU?

The annualized yield of the dividend is 2.35% based on a closing share price of $73.29.

How many customer facilities does Community Bank System (CBU) operate?

Community Bank System (CBU) operates over 215 customer facilities.