Community Bank System, Inc. Announces Increase to Its Quarterly Dividend From $0.44 To $0.45/Share
Portfolio Pulse from Happy Mohamed
Community Bank System, Inc. (NYSE:CBU) has announced a quarterly cash dividend increase from $0.44 to $0.45 per share, payable on October 10, 2023. This represents a 2.27% increase and an annualized yield of 3.71% based on the closing share price of $48.58 on July 18, 2023. This marks the 31st consecutive year the company has increased its annual dividend.
July 19, 2023 | 8:36 pm
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POSITIVE IMPACT
Community Bank System's dividend increase reflects the board's confidence in the company's ability to deliver consistent earnings. This could potentially attract income-focused investors, leading to a positive impact on the stock price.
Dividend increases are often seen as a sign of a company's financial health and stability. They can attract income-focused investors, which can lead to increased demand for the stock and potentially a rise in the stock price. Given that this is the 31st consecutive year of dividend increase, it demonstrates a strong track record, which could further boost investor confidence.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100