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ELMIRA, N.Y., May 20, 2021 (GLOBE NEWSWIRE) -- Chemung Financial Corporation (Nasdaq: CHMG) announced today that its Board of Directors has approved a dividend increase of $0.05 per share, equal to a quarterly cash dividend of $0.31 per share, payable on July 1, 2021 to common stock shareholders of record as of the close of business on June 17, 2021. This represents a dividend increase of 19.2 percent.
Anders M. Tomson, President and CEO stated, “We are pleased that our Company’s strong financial results have allowed us to increase our cash dividend. This continues our long history of paying uninterrupted cash dividends, and we are proud to reward our shareholders with this dividend increase.”
Chemung Financial Corporation is a $2.5 billion financial services holding company headquartered in Elmira, New York and operates 31 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, and Chemung Risk Management, Inc., a captive insurance company based in the State of Nevada.
chemung canal trust company is an independent community bank, which has served the financial needs of businesses and individuals for over 180 years. we trace our roots to the opening of our namesake, the chemung canal, in 1833. today, we operate 34 branch offices in 11 new york state counties and one pennsylvania county. most important, we remain steadfast to our community banking philosophy and business model, which means we build long-term relationships with our clients and play a vital role in the communities we serve. deposits gathered locally are channeled back into our local communities in the form of loans to businesses, individuals, organizations and other enterprises. decisions are made locally, not in some far-off distant city.
