SYRACUSE, N.Y.--(BUSINESS WIRE)--
Community Bank System, Inc. (NYSE:CBU) announced that it has declared a
quarterly cash dividend of $0.31 per share on its common stock. The
dividend will be payable on July 11, 2016 to shareholders of record as
of June 15, 2016. The $0.31 cash dividend represents an annualized yield
of 3.1% based on the closing share price of $39.51 on May 18, 2016.
The Company also announced that four directors standing for election at
its Annual Shareholders Meeting on May 18, 2016 were elected including
Mark J. Bolus, Nicholas A. DiCerbo, James A. Gabriel and Edward S.
Mucenski. At the Annual Meeting, the shareholders also ratified the
appointment of PricewaterhouseCoopers LLP to serve as the Company’s
independent registered public accounting firm and approved, on an
advisory basis, the Company’s executive compensation programs.
Community Bank System, Inc. operates more than 200 customer facilities
across Upstate New York and Northeastern Pennsylvania through its
banking subsidiary, Community Bank, N.A. With assets of approximately
$8.6 billion, the DeWitt, N.Y. headquartered company is among the
country’s 150 largest financial institutions. In addition to a full
range of retail and business banking services, the Company offers
comprehensive financial planning, insurance and wealth management
services. The Company’s Benefit Plans Administrative Services, Inc.
subsidiary is a leading provider of employee benefits administration and
trust services, actuarial and 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.communitybankna.com
or http://ir.communitybanksystem.com.
This press release contains forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995.The
following factors, among others, could cause the actual results of CBU’s
operations to differ materially from CBU’s expectations: the successful
integration of operations of its acquisitions; competition; changes in
economic conditions, interest rates and financial markets; and changes
in legislation or regulatory requirements.These statements are
based on the current beliefs and expectations of CBU’s management and
CBU does not assume any duty to update forward-looking statements.
View source version on businesswire.com: http://www.businesswire.com/news/home/20160520005130/en/
Community Bank System, Inc.
Scott A. Kingsley, 315-445-3121
EVP
& Chief Financial Officer
Source: Community Bank System, Inc.