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. This dividend will be payable on July 1, 2020, to shareholders on record as of June 17, 2020. Headquartered in Elmira, New York, Chemung Financial operates 32 retail offices through its principal subsidiary, Chemung Canal Trust Company, which is the oldest locally-owned community bank in New York State, established in 1833. The company also includes CFS Group, Inc. and Chemung Risk Management, Inc.

Positive

• Approval of a quarterly cash dividend of $0.26 per share enhances shareholder income.
• Long-standing operational history since 1833 demonstrates stability and community trust.

Negative

• None.

News Market Reaction – CHMG

-5.35%

-5.35% Session move

In the trading session that priced this news, CHMG declined 5.35%, reflecting a notable negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

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ELMIRA, N.Y., May 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 July 1, 2020 to common stock shareholders of record as of the close of business on June 17, 2020.

Chemung Financial Corporation is a $1.8 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?

The dividend amount is $0.26 per share.

When will the dividend be paid to shareholders?

The dividend will be paid on July 1, 2020.

What is the record date for the dividend?

The record date for the dividend is June 17, 2020.