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Community Bank raises quarterly dividend

Community Bank System on Wednesday raised its quarterly cash dividend by two cents per share, or 6.3 percent, representing its 25th straight year of dividend hikes.

The DeWitt, N.Y.-based company will pay the 34-cent-per-share dividend on Oct. 10 to shareholders of record as of Sept. 15.

“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," President and CEO Mark E. Tryniski said in a statement announcing the dividend. "The increase reflects the continued strength of both our current operating performance and capital position.”

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