Citizens Financial Services, Inc. Declares Quarterly Cash Dividend

Rhea-AI Summary

Citizens Financial Services, Inc. (CZFS) declared a cash dividend of $0.48 per share, payable on September 30, 2022. Shareholders recorded by the close of business on September 16, 2022 will receive this dividend, reflecting a 3.1% increase from last year’s $0.465, adjusted for a 1% stock dividend in June 2022. The company's President, Randall Black, stated that the uplisting to the Nasdaq Capital Market supports their growth and commitment to rewarding shareholders.

Positive

• Declared a cash dividend of $0.48 per share, demonstrating financial strength.
• 3.1% increase in dividend compared to the previous year shows commitment to shareholders.
• Uplisted to the Nasdaq Capital Market, indicating growth and enhanced visibility.

Negative

• None.

MANSFIELD, Pa., Sept. 1, 2022 /PRNewswire/ -- The Board of Directors of Citizens Financial Services, Inc. (CZFS), the bank holding company for First Citizens Community Bank (FCCB), recently declared a cash dividend for its shareholders.

The cash dividend of $0.48 per share is payable on September 30, 2022 to shareholders of record at the close of business on September 16, 2022. This quarterly cash dividend is an increase of 3.1% over the regular cash dividend of $0.465 per share declared one year ago, as adjusted for the 1% stock dividend declared in June 2022. 

"We believe that the recent uplisting of our stock to the Nasdaq Capital Market has complemented our demonstrated growth, and our consistent and dependable cash dividend payment is a reflection of our commitment to reward shareholders for their ownership," noted President and CEO, Randall Black.

Citizens Financial Services, Inc. is a $2.25 billion bank holding company conducting business through First Citizens Community Bank (FCCB).  First Citizens Community Bank (FCCB) operates 31 offices in Pennsylvania, Delaware and New York. 

For further information regarding the common stock of Citizens Financial Services, Inc., please contact any of the following firms:  Automated Trading Desk, 866-283-2831; Boenning & Scattergood, Inc., 800-842-8928; Keefe, Bruyette & Woods, Inc., 800-342-5529; Monroe Securities Inc., 800-766-5560; Pershing LLC, 201-413-2700; RBC Capital Markets Corp., 800-959-5951; Sandler O' Neill & Partners, 212-466-8020; Stifel, Nicolaus & Co., Inc., 973-549-4200; UBS Securities, LLC, 203-719-8710.

Note: This press release may contain forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Actual results and trends could differ materially from those set forth in such statements due to various factors. These factors include operating, legal and regulatory risks; changing economic and competitive conditions and other risks and uncertainties.

 

View original content:https://www.prnewswire.com/news-releases/citizens-financial-services-inc-declares-quarterly-cash-dividend-301616652.html

SOURCE Citizens Financial Services, Inc.

FAQ

What is the dividend amount declared by CZFS?

The dividend amount declared by Citizens Financial Services, Inc. is $0.48 per share.

When is the dividend payable for CZFS?

The dividend is payable on September 30, 2022.

What was the previous dividend amount before the increase?

The previous dividend amount was $0.465 per share.

What is the significance of the Nasdaq uplisting for CZFS?

The uplisting to the Nasdaq Capital Market is seen as a reflection of the company's growth and aims to improve shareholder value.