Community Bank System, Inc. Announces Quarterly Common Stock Dividend and Results of Annual Shareholders' Meeting

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May 17, 2023

Community Bank System, Inc. (NYSE: CBU) (the “Company”) announced that it has declared a quarterly cash dividend of $0.44 per share on its common stock. The dividend will be payable on July 10, 2023 to Shareholders of record as of June 15, 2023. The $0.44 cash dividend represents an annualized yield of 3.85% based on the closing share price of $45.69 on May 16, 2023.