Community Bank System, Inc. Announces Its Quarterly Dividend
15 Noviembre 2023 - 3:30PM
Business Wire
Community Bank System, Inc. (NYSE: CBU) (the “Company”)
announced that it has declared a quarterly cash dividend of $0.45
per share on its common stock. The dividend will be payable on
January 10, 2024 to shareholders of record as of December 15, 2023.
The $0.45 cash dividend represents an annualized yield of 4.01%
based on the closing share price of $44.87 on November 14,
2023.
Community Bank System, Inc. is a diversified financial services
company with total assets of $15.4 billion focused on four main
business lines – banking, benefits administration, insurance
services and wealth management. Its banking subsidiary, Community
Bank, N.A., is among the country’s 100 largest banking institutions
and operates more than 200 customer facilities across Upstate New
York, Northeastern Pennsylvania, Vermont, and Western
Massachusetts. In addition to a full range of retail, business, and
municipal banking services, the Company offers comprehensive
financial planning, trust administration and wealth management
services through its Community Bank Wealth Management operating
unit. 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. The Company’s OneGroup NY, Inc. subsidiary is a top
100 U.S. insurance agency. 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 commercial real
estate and residential 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, savings or money market
account deposit balances and other factors that affect net interest
margin; future provisions for credit losses on loans and debt
securities; changes in nonperforming assets; ability to contain
costs in inflationary conditions; the effect of financial market
valuations 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, including capital requirements; and the timing for
receiving regulatory approvals and completing pending merger and
acquisition 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/20231115354440/en/
Joseph E. Sutaris, EVP & Chief Financial Officer Office:
(315) 445-7396
Community Bank System (NYSE:CBU)
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Community Bank System (NYSE:CBU)
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