Chemung Financial is raising its dividend by two cents to 36 cents a share.
The parent company for community bank Chemung Canal Trust said its board has approved of the 6% increase. The board has now increased the payout by five cents a share since the beginning of last year.
The dividend will be paid out on Oct. 1 to shareholders of record as of Sept. 17.
The new payout, on an annualized basis, represents a yield of 1.7% based on Tuesday's closing price of $83.66.
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