Published on 13 Dec 2023 on Simply Wall St. via Yahoo Finance

Chemung Financial (NASDAQ:CHMG) Could Be A Buy For Its Upcoming Dividend

Readers hoping to buy Chemung Financial Corporation (NASDAQ:CHMG) for its dividend will need to make their move shortly, as the stock is about to trade ex-dividend. The ex-dividend date is usually set to be one business day before the record date which is the cut-off date on which you must be present on the company's books as a shareholder in order to receive the dividend. The ex-dividend date is of consequence because whenever a stock is bought or sold, the trade takes at least two business day to settle. Meaning, you will need to purchase Chemung Financial's shares before the 18th of December to receive the dividend, which will be paid on the 2nd of January.

The company's next dividend payment will be US$0.31 per share, and in the last 12 months, the company paid a total of US$1.24 per share. Last year's total dividend payments show that Chemung Financial has a trailing yield of 2.6% on the current share price of $47.26. We love seeing companies pay a dividend, but it's also important to be sure that laying the golden eggs isn't going to kill our golden goose! So we need to investigate whether Chemung Financial can afford its dividend, and if the dividend could grow.

See our latest analysis for Chemung Financial