COMMUNITY BANK SYSTEM DECLARES DIVIDEND
COMMUNITY BANK SYSTEM DECLARES DIVIDEND SYRACUSE, N.Y., Feb. 21 /PRNewswire/ -- Community Bank System, Inc.
(NASDAQ-NMS: CBSI) announced that its board of directors has declared a quarterly cash dividend of $.20 per share on its common stock. The dividend will be payable April 10, 1992 to stockholder of record March 16, 1992.
In a statement released today, Edwin J. Lyons, president and CEO stated that this action by the board represented a 5.3 percent increase in the quarterly dividend from the $.19 previously paid per quarter, since the first quarter of 1987. Lyons also stated that this action expresses the board's confidence in the recently completed and successful consolidation of its five banking affiliates into Community Bank, N.A., and that it is an appropriate move in light of a strong year-end earnings performance. Community Bank System, Inc. is a $635 million registered bank holding company based in Dewitt, N.Y. Through its wholly-owned national banking subsidiary, Community Bank, N.A., CBSI operates a full service banking network with 32 branches located throughout Northern New York, the Finger Lakes Region, the Southern Tier, and Southwestern New York, as well as a representative office in Ottawa, Canada. -0- 2/21/92 /CONTACT: Edwin J. Lyons, president and CEO of Community Bank System, 315-445-2282/ (CBSI) CO: Community Bank System, Inc. ST: New York IN: FIN SU: DIV
SH-KW -- NY043 -- 1432 02/21/92 14:03 EST
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|Date:||Feb 21, 1992|
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