GLENS
FALLS, N.Y., Oct. 26,
2023 /PRNewswire/ -- The Board of Directors of
Arrow Financial Corporation (NasdaqGS® - AROW) on
October 25, 2023, declared a quarterly cash dividend of
$0.27 per share payable
December 15, 2023 to shareholders of record on
December 1, 2023. This dividend marks the 42nd consecutive
quarterly cash dividend declared by Arrow.
With this dividend, Arrow will be resuming its Dividend
Reinvestment Plan (DRIP). Participation under the DRIP will
automatically resume for Company shareholders that were previously
enrolled. For questions regarding the DRIP, please call the Plan
Administrator, Equiniti Trust Company, formerly American Stock and
Transfer Company, toll free at (888) 444-0058.
Additionally, the Arrow Board of Directors expanded its existing
stock repurchase program by $5
million, bringing the total availability under the
repurchase program to $9.1 million,
and removed the expiration date previously incorporated into the
existing repurchase program. The stock repurchase program allows
the Company to repurchase shares of its common stock in open-market
or negotiated transactions. The Company expects to resume
repurchases in the coming months.
Arrow Financial Corporation (NasdaqGS® - AROW) is a multi-bank
holding company headquartered in Glens
Falls, New York, serving the financial needs of northeastern
New York. The Company is the
parent of Glens Falls National Bank and Trust Company and Saratoga
National Bank and Trust Company. Other subsidiaries include North
Country Investment Advisers, Inc., and Upstate Agency, LLC,
specializing in property and casualty insurance and group health
and employee benefits.
The information in this document may contain statements based on
management's beliefs, assumptions, expectations, estimates and
projections about the future. Such "forward-looking statements," as
defined in Section 21E of the Securities Exchange Act of 1934, as
amended, involve a degree of uncertainty and attendant risk. Actual
outcomes and results may differ, explicitly or by implication. We
are not obliged to revise or update these statements to reflect
unanticipated events. This document should be read in conjunction
with Arrow's Annual Report on Form 10-K for the year ended
December 31, 2022 and other filings
with the Securities and Exchange Commission.
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SOURCE Arrow Financial Corporation