Community Bank System, Inc. (NYSE: CBU) (the “Company”) announced that it has declared a quarterly cash dividend of $0.45 per share on its common stock. The dividend will be payable on October 10, 2023 to shareholders of record as of September 15, 2023.

The $0.45 cash dividend represents a $0.01, or 2.27%, increase and an annualized yield of 3.71% based on the closing share price of $48.58 on July 18, 2023. President and Chief Executive Officer, Mark E. Tryniski, commented, “The payment of a meaningful and growing dividend is an important component of our commitment to provide consistent and favorable long term returns to our Shareholders. This dividend increase reflects the Board of Director’s confidence in our ability to continue to deliver consistent earnings and marks the 31^st consecutive year in which the Company has increased its annual dividend.”

Community Bank System