Community Bank System, Inc. Announces Quarterly Common Stock Dividend and Results of Annual Shareholders’ Meeting
17 Mayo 2023 - 3:30PM
Business Wire
Community Bank System, Inc. (NYSE: CBU) (the “Company”)
announced that it has declared a quarterly cash dividend of $0.44
per share on its common stock. The dividend will be payable on July
10, 2023 to Shareholders of record as of June 15, 2023. The $0.44
cash dividend represents an annualized yield of 3.85% based on the
closing share price of $45.69 on May 16, 2023.
The Company also announced that its Shareholders voted in line
with the Board of Directors’ recommendations on all proposals at
its Annual Shareholders’ Meeting on May 17, 2023 and elected all
twelve (12) of the directors standing for re-election for a
one-year term. The Shareholders also (i) approved, on an advisory
basis, the Company’s executive compensation programs, (ii)
approved, on an advisory basis, to hold future say-on-pay votes
every year, and (iii) ratified the appointment of
PricewaterhouseCoopers LLP to serve as the Company’s independent
registered public accounting firm.
Community Bank System, Inc. operates more than 200 customer
facilities across Upstate New York, Northeastern Pennsylvania,
Vermont, and Western Massachusetts through its banking subsidiary,
Community Bank, N.A. With assets of over $15.2 billion, the DeWitt,
N.Y. headquartered company is among the country’s 125 largest
banking institutions. In addition to a full range of retail,
business, and municipal banking services, the Company offers
comprehensive financial planning, insurance and wealth management
services through its Community Bank Wealth Management Group and
OneGroup NY, Inc. operating units. The Company’s Benefit Plans
Administrative Services, Inc. subsidiary is a leading provider of
employee benefits administration, trust services, collective
investment fund administration and actuarial consulting services to
customers on a national scale. Community Bank System, Inc. is
listed on the New York Stock Exchange and the Company’s stock
trades under the symbol CBU. For more information about Community
Bank visit www.cbna.com or https://ir.communitybanksystem.com.
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995. These statements are based on the current beliefs and
expectations of the Company’s management and are subject to
significant risks and uncertainties. Actual results may differ from
those set forth in the forward-looking statements. The following
factors, among others, could cause the actual results of the
Company’s operations to differ materially from its expectations:
the macroeconomic and other challenges and uncertainties related to
or resulting from recent bank failures; current and future economic
and market conditions, including the effects on housing prices,
unemployment rates, high inflation, U.S. fiscal debt, budget and
tax matters, geopolitical matters, and global economic growth;
fiscal and monetary policies of the Federal Reserve Board; the
potential adverse effects of unusual and infrequently occurring
events; management’s estimates and projections of interest rates
and interest rate policies; the effect of changes in the level of
checking or savings account deposits and net interest margin;
future provisions for credit losses on loans and debt securities;
changes in nonperforming assets; the effect on stock market prices
on the Company’s fee income businesses, including its employee
benefit services, wealth management, and insurance businesses; the
successful integration of operations of its acquisitions;
competition; changes in legislation or regulatory requirements; and
the timing for receiving regulatory approvals and completing
pending transactions. For more information about factors that could
cause actual results to differ materially from the Company’s
expectations, refer to its reports filed with the Securities and
Exchange Commission (“SEC”), including the discussion under “Risk
Factors” as filed with the SEC and available on the Company’s
website at https://ir.communitybanksystem.com and on the SEC’s
website at www.sec.gov. Further, any forward-looking statement
speaks only as of the date on which it is made, and the Company
undertakes no obligation to update any forward-looking statement to
reflect events or circumstances after the date on which the
statement is made or to reflect the occurrence of unanticipated
events.
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version on businesswire.com: https://www.businesswire.com/news/home/20230517005793/en/
Joseph E. Sutaris, EVP & Chief Financial Officer Office:
(315) 445-7396
Community Financial System (NYSE:CBU)
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Community Financial System (NYSE:CBU)
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