Chemung Financial Corporation Announces Quarterly Dividend

Rhea-AI Summary

Chemung Financial Corporation (CHMG) announced a quarterly cash dividend of $0.26 per share, payable on April 1, 2021. Shareholders of record as of March 18, 2021 will receive this dividend. Based in Elmira, New York, Chemung Financial holds approximately $2.3 billion in assets and operates 30 retail offices through its subsidiary, Chemung Canal Trust Company, the oldest locally-owned community bank in New York. The company also includes CFS Group, a financial services subsidiary, and Chemung Risk Management, a captive insurance firm.

Positive

• Quarterly cash dividend of $0.26 per share enhances shareholder income.
• Company demonstrates confidence in its financial stability with regular dividend payments.

Negative

• None.

News Market Reaction – CHMG

+2.73%

+2.73% Session move

In the trading session that priced this news, CHMG gained 2.73%, reflecting a moderate positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

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ELMIRA, N.Y., Feb. 18, 2021 (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 April 1, 2021 to common stock shareholders of record as of the close of business on March 18, 2021.

Chemung Financial Corporation is a $2.3 billion financial services holding company headquartered in Elmira, New York and operates 30 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

Category: Financial

Source: Chemung Financial Corp

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

FAQ

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

Chemung Financial Corporation announced a quarterly cash dividend of $0.26 per share.

When is the dividend payment date for CHMG stock?

The dividend is payable on April 1, 2021.

Who are the shareholders eligible for the CHMG dividend?

Shareholders on record as of the close of business on March 18, 2021, are eligible for the dividend.

How often does Chemung Financial Corporation pay dividends?

Chemung Financial typically pays dividends quarterly.

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

The consistency of dividend payments indicates a stable financial position; however, sustainability depends on ongoing financial performance.