Citizens Financial Services, Inc. Declares Quarterly Cash Dividend

Rhea-AI Summary

Citizens Financial Services, Inc. (CZFS) announced a cash dividend of $0.465 per share, payable on March 23, 2021, to shareholders of record as of March 12, 2021. This reflects a 3.31% increase from last year's regular dividend of $0.450 per share, adjusted for a prior 1% stock dividend. The bank holding company, valued at $1.95 billion, operates through First Citizens Community Bank across Pennsylvania, Delaware, and New York. CEO Randall E. Black highlighted the commitment to shareholder returns despite challenges posed by the COVID-19 pandemic.

Positive

• Dividend increased by 3.31%, showing commitment to shareholder returns.
• Stable financial performance in the top quartile of peer groups.
• Strong independent community bank with a valuation of $1.95 billion.

Negative

• None.

MANSFIELD, Penn., March 26, 2021 /PRNewswire/ -- The Board of Directors of Citizens Financial Services, Inc. (OTCPink: CZFS), the bank holding company for First Citizens Community Bank (FCCB), recently declared a cash dividend for its shareholders.

The cash dividend of $0.465 per share is payable on March 23, 2021 to shareholders of record at the close of business on March 12, 2021. This quarterly cash dividend is an increase of 3.31% over the regular cash dividend of $0.450 per share declared one year ago, as adjusted for the 1% stock dividend declared in June 2020.  Citizens Financial Services, Inc. paid an additional $0.10 special dividend in the first quarter of 2020.

"We hope for a return to normalcy in the near future, but even with the unusual year experienced as a result of the COVID-19 pandemic, we continue to achieve and maintain financial performance levels in the top quartile of our peer groups. We remain committed to providing a solid return to shareholders and are proud to be a strong, independent community bank," said Randall E. Black, CEO and President.

Citizens Financial Services, Inc. is a $1.95 billion bank holding company conducting business through First Citizens Community Bank (FCCB).  First Citizens Community Bank (FCCB) operates 30 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:http://www.prnewswire.com/news-releases/citizens-financial-services-inc-declares-quarterly-cash-dividend-301256937.html

SOURCE Citizens Financial Services, Inc.

FAQ

What is the cash dividend amount for CZFS shareholders in 2021?

The cash dividend amount is $0.465 per share.

When is the payable date for the CZFS dividend?

The dividend is payable on March 23, 2021.

What was the previous cash dividend amount before the increase?

The previous cash dividend amount was $0.450 per share.

What is the record date for the CZFS dividend payment?

The record date for the dividend payment is March 12, 2021.

How does the current dividend compare to last year's?

The current dividend represents a 3.31% increase over last year's dividend.