Chemung Financial Raises Quarterly Dividend 5.88%

Chemung Financial Corporation (NASDAQ: CHMG) increased its quarterly dividend to $0.36 per share from $0.34, a 5.88% rise. Shares traded ex-dividend on Sept. 17, 2026.

The new rate equates to an annual dividend of $1.44 per share. Based on a share price of $82.97, the stock carries a forward annual yield of 1.73%.

The increase gives Chemung one consecutive year of dividend growth. SmarterDividends assigns the payout a safety score of 97 out of 100 and an A grade, indicating a strong assessment under the publication’s dividend-safety framework. The company has a market capitalization of $400,037,536.

An improving operating backdrop

Chemung Financial is an Elmira, New York-based financial services holding company and the parent of Chemung Canal Trust Company. The community bank operates 30 retail offices and provides banking, trust and related financial services. The company reported assets of $2.8 billion when it released its latest quarterly results in July. Chemung Financial’s second-quarter earnings release

The dividend increase follows a period of improved operating performance. Chemung reported second-quarter 2026 net income of $8.8 million, or $1.82 per share, compared with a net loss of $6.5 million, or $1.35 per share, a year earlier. Net interest income increased 18.8% from the prior-year quarter, while net interest margin expanded to 3.67%.

Management attributed the improvement to a balance-sheet repositioning initiated in 2025, along with lower funding costs and commercial loan growth. The company’s quarterly filing also showed customer deposit growth and a lower level of interest expense during the first half of 2026. Chemung Financial’s Form 10-Q

The company did not explicitly link the dividend action to a particular operating metric, but the higher payout comes after the reported rebound in earnings and margin expansion.

What it means for income investors

The increase raises the annualized cash distribution to $1.44 per share while leaving the forward yield at a relatively modest 1.73% at the stated share price. The one-year growth record remains short, although the 97 safety score and A grade indicate strong current payout support under SmarterDividends’ methodology. Because the ex-dividend date has passed, investors purchasing shares on or after Sept. 17 are not eligible for the associated quarterly distribution.