Citizens Financial Services, Inc. Declares Quarterly Cash Dividend

Rhea-AI Summary

Citizens Financial Services, Inc. (CZFS) has declared a cash dividend of $0.48 per share, marking a 3.1% increase from last year's $0.465 per share dividend. The dividend is payable on December 30, 2022 to shareholders of record by the close of business on December 16, 2022. The company, with a market cap of $2.30 billion, operates First Citizens Community Bank across Pennsylvania, Delaware, and New York. President and CEO Randall Black emphasized the bank's commitment to shareholder trust and financial resilience.

Positive

• Dividend increased by 3.1% from the previous year.
• Demonstrates commitment to shareholder value.
• Company's stable financial position indicated by consistent dividend payments.

Negative

• None.

MANSFIELD, Pa., Dec. 6, 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 December 30, 2022 to shareholders of record at the close of business on December 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 work hard to remain strong, resilient and well-positioned.  Our consistent cash dividend payment reflects our commitment to our shareholders for their ownership and trust in us," noted President and CEO, Randall Black.

Citizens Financial Services, Inc. is a $2.30 billion bank holding company conducting business through First Citizens Community Bank (FCCB).  First Citizens Community Bank (FCCB) operates 33 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.

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SOURCE Citizens Financial Services, Inc.

FAQ

What is the dividend amount declared by CZFS?

Citizens Financial Services, Inc. declared a cash dividend of $0.48 per share.

When is the dividend payable for CZFS?

The dividend is payable on December 30, 2022.

What was the previous dividend amount for CZFS?

The previous dividend amount was $0.465 per share.

What is the record date for the CZFS dividend?

The record date for the dividend is December 16, 2022.

How does the dividend increase compare to last year for CZFS?

The dividend has increased by 3.1% compared to last year's dividend.