Chemung Financial Corporation Announces Quarterly Dividend

Rhea-AI Summary

Chemung Financial Corporation (Nasdaq: CHMG) has declared a quarterly cash dividend of $0.26 per share, set for payment on October 1, 2020. Shareholders must be on record by the close of business on September 17, 2020. With a total asset value of $2.0 billion, Chemung Financial operates 32 retail offices through its subsidiary, Chemung Canal Trust Company, the oldest locally-owned community bank in New York, established in 1833. The corporation also manages CFS Group, offering various financial services.

Positive

• Quarterly cash dividend of $0.26 per share enhances income for shareholders.
• Demonstrates company confidence and stability with a consistent dividend policy.

Negative

• None.

News Market Reaction – CHMG

+0.66%

+0.66% Session move

In the trading session that priced this news, CHMG gained 0.66%, reflecting a mild positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

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ELMIRA, N.Y., Aug. 20, 2020 (GLOBE NEWSWIRE) -- Chemung Financial Corporation (Nasdaq: CHMG) announced today that its Board of Directors has approved a quarterly cash dividend of $0.26 per share, payable on October 1, 2020 to common stock shareholders of record as of the close of business on September 17, 2020.

Chemung Financial Corporation is a $2.0 billion financial services holding company headquartered in Elmira, New York and operates 32 retail 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.

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

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

FAQ

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

The dividend amount is $0.26 per share.

When is the Chemung Financial Corporation (CHMG) dividend payment date?

The dividend payment date is October 1, 2020.

What is the record date for Chemung Financial Corporation (CHMG) dividend?

The record date is September 17, 2020.

How often does Chemung Financial Corporation (CHMG) pay dividends?

Chemung Financial Corporation typically pays quarterly dividends.

Is the dividend from Chemung Financial Corporation (CHMG) sustainable?

The sustainability of dividends can be gauged from the company's earnings and financial stability.