Arrow Declares October 2024 Cash Dividend

Rhea-AI Summary

Arrow Financial (NasdaqGS® - AROW) has declared a quarterly cash dividend of $0.28 per share, payable on October 29, 2024, to shareholders of record on October 15, 2024. This represents a 3.7% increase to the quarterly dividend and replaces the 3% stock dividend previously declared in recent years. The announcement marks Arrow's 46th consecutive quarterly cash dividend.

CEO David S. DeMarco highlighted that Arrow has returned over $6.4 million of capital to shareholders through share repurchases this year, in addition to $13.6 million in regular quarterly cash dividends paid to date in 2024. The company's continued success enables it to offer increased returns to shareholders.

Positive

• 3.7% increase in quarterly cash dividend
• $6.4 million returned to shareholders through share repurchases in 2024
• $13.6 million paid in regular quarterly cash dividends in 2024
• 46th consecutive quarterly cash dividend declared

Negative

• None.

News Market Reaction

-0.47%

1 alert

-0.47% News Effect

On the day this news was published, AROW declined 0.47%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

GLENS FALLS, N.Y., Oct. 3, 2024 /PRNewswire/ -- The Board of Directors of Arrow Financial Corporation (NasdaqGS^® - AROW) on October 2, 2024, declared a quarterly cash dividend of $0.28 per share payable October 29, 2024 to shareholders of record on October 15, 2024. This represents a 3.7% increase to our quarterly dividend and is in lieu of the 3% stock dividend the Company has declared in recent years. This cash dividend marks the 46th consecutive quarterly cash dividend declared by Arrow.

Arrow President and CEO David S. DeMarco: 

"We are pleased to deliver enhanced value to our shareholders with the increased cash dividend. So far this year, we have returned more than $6.4 million of capital to shareholders through share repurchases, in addition to the regular quarterly 2024 cash dividends of $13.6 million paid to date. Our continued success allows us to offer increased returns to our shareholders."

Arrow Financial Corporation (NasdaqGS® - AROW) is a multi-bank holding company headquartered in Glens Falls, New York, serving the financial needs of northeastern New York. The Company is the parent of Glens Falls National Bank and Trust Company and Saratoga National Bank and Trust Company. Other subsidiaries include North Country Investment Advisers, Inc., and Upstate Agency, LLC, specializing in property and casualty insurance and group health and employee benefits.

The information in this document may contain statements based on management's beliefs, assumptions, expectations, estimates and projections about the future. Such "forward-looking statements," as defined in Section 21E of the Securities Exchange Act of 1934, as amended, involve a degree of uncertainty and attendant risk. Actual outcomes and results may differ, explicitly or by implication. We are not obligated to revise or update these statements to reflect unanticipated events. This document should be read in conjunction with Arrow's Annual Report on Form 10-K for the year ended December 31, 2023 and other filings with the Securities and Exchange Commission.

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SOURCE Arrow Financial Corporation

FAQ

What is Arrow Financial 's new quarterly dividend amount for October 2024?

Arrow Financial (AROW) has declared a quarterly cash dividend of $0.28 per share for October 2024.

When is the payment date for Arrow Financial 's October 2024 dividend?

The payment date for Arrow Financial 's (AROW) October 2024 dividend is October 29, 2024.

What is the record date for Arrow Financial 's October 2024 dividend?

The record date for Arrow Financial 's (AROW) October 2024 dividend is October 15, 2024.

How much has Arrow Financial 's dividend increased compared to previous quarters?

Arrow Financial (AROW) has increased its quarterly dividend by 3.7% compared to previous quarters.