Published on 10 Mar 2024 on Simply Wall St. via Yahoo Finance

Should You Buy Chemung Financial Corporation (NASDAQ:CHMG) For Its Upcoming Dividend?

Chemung Financial Corporation (NASDAQ:CHMG) is about to trade ex-dividend in the next four days. The ex-dividend date is one business day before a company's record date, which is the date on which the company determines which shareholders are entitled to receive a dividend. It is important to be aware of the ex-dividend date because any trade on the stock needs to have been settled on or before the record date. Therefore, if you purchase Chemung Financial's shares on or after the 15th of March, you won't be eligible to receive the dividend, when it is paid on the 1st of April.

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. Based on the last year's worth of payments, Chemung Financial stock has a trailing yield of around 2.9% on the current share price of US$42.40. Dividends are an important source of income to many shareholders, but the health of the business is crucial to maintaining those dividends. As a result, readers should always check whether Chemung Financial has been able to grow its dividends, or if the dividend might be cut.

View our latest analysis for Chemung Financial