Chemung Financial Corporation Announces Dividend Increase

Rhea-AI Summary

Chemung Financial (Nasdaq: CHMG) has announced a dividend increase of $0.01 per share, bringing the quarterly cash dividend to $0.32 per share. The dividend represents a 3.2% increase and will be payable on April 1, 2025, to shareholders of record as of March 18, 2025.

The increase comes as a result of the 's strong financial performance, according to President and CEO Anders M. Tomson. Chemung Financial is a $2.8 billion financial services holding company headquartered in Elmira, New York, operating 30 offices through its principal subsidiary, Chemung Canal Trust Company, which was established in 1833 and is New York State's oldest locally-owned and managed community bank.

Positive

• Dividend increased by 3.2% to $0.32 per share quarterly
• Strong financial performance cited by management
• Substantial asset base of $2.8 billion

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• None.

ELMIRA, N.Y., Feb. 19, 2025 (GLOBE NEWSWIRE) -- Chemung Financial Corporation (Nasdaq: CHMG) announced today that its Board of Directors has approved a dividend increase of $0.01 per share, equal to a quarterly cash dividend of $0.32 per share, payable on April 1, 2025, to common stock shareholders of record as of the close of business on March 18, 2025. This represents a dividend increase of 3.2%.

“As a result of our Corporation’s strong financial performance, we are pleased to reward our shareholders with an increase to the quarterly dividend,” stated Anders M. Tomson, President and CEO of Chemung Financial Corporation. 

Chemung Financial Corporation is a $2.8 billion financial services holding company headquartered in Elmira, New York and operates 30 offices through its principal subsidiary, Chemung Canal Trust Company, a full-service community bank with full trust powers. Established in 1833, Chemung Canal Trust Company is the oldest locally-owned and managed community bank in New York State. Chemung Financial Corporation is also the parent of CFS Group, Inc., a financial services subsidiary offering non-traditional services including mutual funds, annuities, brokerage services, tax preparation services and insurance.

This press release may be found at www.chemungcanal.com

Category: Financial

Source: Chemung Financial Corp

Contact:
Scott T. Heffner
Senior Vice President, Director of Marketing
(607) 737-3706
Stheffner@chemungcanal.com

FAQ

What is the new quarterly dividend amount for Chemung Financial (CHMG)?

The new quarterly dividend amount for CHMG is $0.32 per share, representing a $0.01 increase.

When will CHMG's new dividend be payable?

The dividend will be payable on April 1, 2025, to shareholders of record as of March 18, 2025.

What is the percentage increase in CHMG's dividend for 2025?

CHMG's dividend increase represents a 3.2% increase from the previous dividend amount.

How large is Chemung Financial 's asset base in 2025?

Chemung Financial has a $2.8 billion asset base as a financial services holding company.

How many offices does CHMG operate through Chemung Canal Trust Company?

CHMG operates 30 offices through its principal subsidiary, Chemung Canal Trust Company.