Community Bank System, Inc. Announces Its Quarterly Dividend
14 Febrero 2024 - 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
April 10, 2024 to shareholders of record as of March 15, 2024. The
$0.45 cash dividend represents an annualized yield of 4.16% based
on the closing share price of $43.25 on February 13, 2024.
Community Bank System, Inc. is a diversified financial services
company with total assets of $15.6 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 approximately 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 CBU’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 or vehicle 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;
litigation and actions of regulatory authorities; 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 on
financial market valuations on CBU’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 CBU’s
expectations, refer to its annual, periodic and other reports filed
with the Securities and Exchange Commission (“SEC”), including the
discussion under the “Risk Factors” section of such reports filed
with the SEC and available on CBU’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 CBU 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/20240214257921/en/
For further information, please contact: Joseph E. Sutaris, EVP
& Chief Financial Officer Office: (315) 445-7396
Community Bank System (NYSE:CBU)
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