---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-23-062741"
form_type: "8-K"
ticker: "CBU"
cik: "0000723188"
company_name: "COMMUNITY FINANCIAL SYSTEM, INC."
filed_at: "2023-05-19T23:59:59+00:00"
generated_at: "2026-06-14T20:16:43.886754+00:00"
event_type: "dividend"
sentiment: "neutral"
materiality_score: 0.25
calibrated_materiality_score: 0.25
confidence: "high"
source: SEC EDGAR
---

# Community Bank System declares $0.44 quarterly dividend; annualized yield 3.85%

## Summary
- Quarterly cash dividend of $0.44 per share, payable July 10, 2023 to holders of record June 15, 2023.
- Annualized yield of 3.85% based on May 16 closing price of $45.69.
- Shareholders elected 12 directors and approved advisory say-on-pay proposals at annual meeting.
- PricewaterhouseCoopers LLP ratified as independent auditor for FY2023.

## SEC filing metadata
- accession: 0001104659-23-062741
- form_type: 8-K
- ticker: CBU
- cik: 0000723188
- company_name: COMMUNITY FINANCIAL SYSTEM, INC.
- filed_at: 2023-05-19T23:59:59+00:00
- event_type: dividend
- sentiment: neutral
- materiality_score: 0.25
- calibrated_materiality_score: 0.25
- confidence: high
- sec_items: 5.07, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/723188/000110465923062741/0001104659-23-062741-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/723188/000110465923062741/tm2316333d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-23-062741
- JSON: https://secwatch.observer/filing/0001104659-23-062741.json
- Plain text: https://secwatch.observer/filing/0001104659-23-062741.txt

## Key facts
- Shareholder Votes
  COMMUNITY FINANCIAL SYSTEM, INC. shareholders approved Advisory approval of executive compensation at the 2023-05-17 meeting.
  - Proposal: say on pay
  - Outcome: passed
  - Meeting: 2023-05-17
  source text: The Company's Shareholders approved, on a non-binding advisory basis, the Company's executive compensation programs, as described in the proxy statement, as set forth below: For Against Abstain Broker Non-Votes 33,889,152 7,353,391 134,612 4,687,533
  evidence_url: https://www.sec.gov/Archives/edgar/data/723188/000110465923062741/0001104659-23-062741-index.htm
- Shareholder Votes
  COMMUNITY FINANCIAL SYSTEM, INC. shareholders approved Ratification of PricewaterhouseCoopers LLP as independent registered public accounting firm for 2023 at the 2023-05-17 meeting.
  - Proposal: auditor ratification
  - Outcome: passed
  - Meeting: 2023-05-17
  source text: The Company's Shareholders ratified the appointment of PricewaterhouseCoopers LLP as the Company's independent registered public accounting firm for the year ending December 31, 2023, as set forth below: For Against Abstain 45,353,575 580,384 130,729
  evidence_url: https://www.sec.gov/Archives/edgar/data/723188/000110465923062741/0001104659-23-062741-index.htm
- Shareholder Votes
  COMMUNITY FINANCIAL SYSTEM, INC. shareholders approved Election of 12 directors for a one-year term at the 2023-05-17 meeting.
  - Proposal: director election
  - Outcome: passed
  - Meeting: 2023-05-17
  source text: On May 17, 2023, Community Bank System, Inc. (the "Company") held its Annual Shareholders Meeting in Verona, New York. At the Annual Meeting, the Company's Shareholders (i) elected 12 directors, each for a one-year term, (ii) approved on an advisory basis the Company's executive compensation as set forth in the proxy statement, (iii) approved on an advisory basis that the frequency of the executive compensation vote should be annual, and (iv) ratified the appointment of PricewaterhouseCoopers LLP as the independent registered public accounting firm of the Company for the year ending December 31, 2023.
  evidence_url: https://www.sec.gov/Archives/edgar/data/723188/000110465923062741/0001104659-23-062741-index.htm
- Shareholder Votes
  COMMUNITY FINANCIAL SYSTEM, INC. shareholders approved Advisory vote on frequency of say-on-pay votes (annual) at the 2023-05-17 meeting.
  - Proposal: say on pay frequency
  - Outcome: passed
  - Meeting: 2023-05-17
  source text: A majority of the votes cast by the Company's Shareholders at the Annual Meeting voted, on a non-binding advisory basis, to hold future say-on-pay votes every year, as set forth below: One Year Two Years Three Years Abstain 39,722,376 114,528 1,305,618 234,633
  evidence_url: https://www.sec.gov/Archives/edgar/data/723188/000110465923062741/0001104659-23-062741-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.