Community Bank System, Inc. Announces its 21st Consecutive Year of Dividend Increases

Before you go, we thought you'd like these...
Before you go close icon

Community Bank System, Inc.Announces its 21st Consecutive Year of Dividend Increases

DEWITT, N.Y.--(BUSINESS WIRE)-- Community Bank System, Inc. (NYS: CBU) announced that its Board of Directors declared a quarterly cash dividend of $0.28 per share on its common stock. The dividend will be payable on October 10, 2013 to shareholders of record as of September 16, 2013.

This one cent increase in the Company's quarterly cash dividend over the same quarter of last year, or 3.7% higher, represents an annualized yield of 3.25% based on the Company's closing price of $34.41 on August 20, 2013. This increase marks the twenty-first (21st) consecutive year of dividend increases for the Company. President and Chief Executive Officer, Mark E. Tryniski, commented, "The payment of a meaningful and growing dividend is an important component of our commitment to provide consistent and favorable long-term returns to our shareholders. The increase reflects the continued strength of both our current operating performance and capital position."


Headquartered in DeWitt, N.Y., Community Bank System, Inc. has $7.0 billion in assets and over 180 customer facilities. The Company's banking subsidiary, Community Bank, N.A. operates across Upstate New York and Northeastern Pennsylvania. Its other subsidiaries include: Benefit Plans Administrative Services, Inc., a national employee benefits consulting and trust administration firm; the CBNA Insurance Agency, with offices in five northern New York communities; Community Investment Services, Inc., a wealth management firm delivering a wide range of financial products throughout the Company's branch network; and Nottingham Advisors, an investment management and advisory firm with offices in Buffalo, N.Y. and North Palm Beach, Florida. For more information, visit: www.communitybankna.com.

anImage


Community Bank System, Inc.
Scott A. Kingsley, E.V.P. and Chief Financial Officer
Office: 315-445-3121
Fax: 315-445-7347

KEYWORDS:   United States  North America  New York

INDUSTRY KEYWORDS:

The article Community Bank System, Inc. Announces its 21st Consecutive Year of Dividend Increases originally appeared on Fool.com.

Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.

Read Full Story

Want more news like this?

Sign up for Finance Report by AOL and get everything from business news to personal finance tips delivered directly to your inbox daily!

Subscribe to our other newsletters

Emails may offer personalized content or ads. Learn more. You may unsubscribe any time.

From Our Partners