Chemung Financial Corporation announces quarterly dividend

Finance

ELMIRA, N.Y. (WETM/AP) – Chemung Financial Corporation (Nasdaq: CHMG) announced Wednesday that its Board of Directors has approved a quarterly cash dividend of $0.26 per share, payable on July 1, 2020 to common stock shareholders of record as of the close of business on June 17, 2020.

In early May Chemung Financial Corp. reported first-quarter profit of $2.5 million and said it had earnings of 51 cents per share. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 75 cents per share.

The financial holding company posted revenue of $21.1 million in Q1. Its revenue net of interest expense was $19.8 million, exceeding Street forecasts. Three analysts surveyed by Zacks expected $19.6 million.

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