CBU Increases Quarterly Dividend by 2.2%

By Bobby Samwell • Saturday, July 20 07:58 • Permanent Link

Community Financial System, Inc. (NYSE: CBU) has declared a quarterly cash dividend of $0.46 per share on its common stock, marking an increase of $0.01 or 2.2% from the previous dividend. This is the 32nd consecutive year of dividend increases for the company, reflecting an annualized yield of 3.25% based on the closing share price of $56.63 on July 16, 2024.

President and Chief Executive Officer, Dimitar Karaivanov, emphasized the company's consistent profitability and strong cash flows as the foundation for the dividend increase. Over the last 10 years, the company has returned over $750 million to its shareholders through dividends, underlining its commitment to providing favorable long-term returns.

Community Financial System, Inc. is a diversified financial services company, with its banking subsidiary, Community Bank, N.A., holding over $15 billion in assets and operating approximately 200 customer facilities across upstate New York, northeastern Pennsylvania, Vermont, and western Massachusetts. The company's subsidiaries also provide employee benefit services, insurance services, and wealth management services on a national scale.

For more information about the company, visit www.cbna.com or www.communityfinancialsystem.com.

This press release contains forward-looking statements. Following these announcements, the company's shares moved 0.5%, and are now trading at a price of $58.65. Check out the company's full 8-K submission here.

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