Citizens Financial Services, Inc. Declares Quarterly Cash Dividend

Rhea-AI Summary

The Board of Directors of Citizens Financial Services declared a cash dividend of $0.475 per share and a 1% stock dividend, payable on June 24, 2022, to shareholders of record by June 10, 2022. This marks a 3.2% increase over last year's cash dividend of $0.460. CEO Randall Black highlighted the strength of their Community Banking model and the recent approval to uplist on Nasdaq, aiming to enhance shareholder value. Citizens Financial Services holds assets of $2.19 billion and operates 30 offices across Pennsylvania, Delaware, and New York.

Positive

• Declared a quarterly cash dividend of $0.475, up 3.2% from last year, indicating financial growth.
• Uplisting to Nasdaq expected to enhance visibility and drive shareholder value.
• Demonstrates a strong Community Banking model with continued performance.

Negative

• None.

MANSFIELD, Pa., June 6, 2022 /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 $0.475 per share and a 1% stock dividend are payable on June 24, 2022 to shareholders of record at the close of business on June 10, 2022. This quarterly cash dividend is an increase of 3.2% over the regular cash dividend of $0.460 per share declared one year ago, as adjusted for the 1% stock dividend declared in June 2021. 

"As evidenced by our financial performance, our Community Banking model is not only strong, but thriving," noted Randall Black, CEO & President. "We believe that our recent approval to uplist our stock on Nasdaq complements our demonstrated growth and will raise our overall profile, driving shareholder value."

Citizens Financial Services, Inc. is a $2.19 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:https://www.prnewswire.com/news-releases/citizens-financial-services-inc-declares-quarterly-cash-dividend-301562081.html

SOURCE Citizens Financial Services, Inc.

FAQ

What is the dividend amount for Citizens Financial Services (CZFS)?

The cash dividend declared is $0.475 per share.

When is the payment date for the CZFS dividend?

The dividend is payable on June 24, 2022.

What was the percentage increase in the CZFS cash dividend?

The cash dividend increased by 3.2% compared to the previous year.

What is the record date for the CZFS dividend?

The record date for the dividend is June 10, 2022.

How many offices does Citizens Financial Services operate?

Citizens Financial Services operates 30 offices in Pennsylvania, Delaware, and New York.