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Chemung Financial Corporation Announces Dividend Increase

1. CHMG increases quarterly dividend by 3.2% to $0.32 per share. 2. Dividend payable on April 1, 2025, to eligible shareholders. 3. Strong financial performance enables the dividend increase. 4. Chemung Financial operates over 30 offices across New York State. 5. The bank, established in 1833, is the oldest locally-managed bank in the state.

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FAQ

Why Bullish?

The dividend increase reflects strong financial health, likely boosting investor confidence. Past dividend increases usually correlate with positive stock performance.

How important is it?

The dividend increase is significant, indicating a commitment to shareholder returns and financial stability. Such actions typically enhance market perception and support stock value.

Why Short Term?

Expect immediate effects through increased demand for CHMG shares after the announcement. Historically, dividend announcements tend to influence short-term trading patterns rapidly.

Related Companies

CHMGCFS Group, Inc.
February 19, 2025 16:15 ET  | Source: Chemung Financial Corp ELMIRA, N.Y., Feb. 19, 2025 (GLOBE NEWSWIRE) -- Chemung Financial Corporation (Nasdaq: CHMG) announced today that its Board of Directors has approved a dividend increase of $0.01 per share, equal to a quarterly cash dividend of $0.32 per share, payable on April 1, 2025, to common stock shareholders of record as of the close of business on March 18, 2025. This represents a dividend increase of 3.2%. “As a result of our Corporation’s strong financial performance, we are pleased to reward our shareholders with an increase to the quarterly dividend,” stated Anders M. Tomson, President and CEO of Chemung Financial Corporation.  Chemung Financial Corporation is a $2.8 billion financial services holding company headquartered in Elmira, New York and operates 30 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. This press release may be found at www.chemungcanal.com Category: Financial Source: Chemung Financial Corp Contact:Scott T. HeffnerSenior Vice President, Director of Marketing (607) 737-3706Stheffner@chemungcanal.com

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