Tompkins Financial hikes dividend by 3.8%

Tompkins Financial (TMP) will raise its quarterly dividend by 3.8 percent to 54 cents per share in 2020. This comes after a 4.0 percent hike to $0.52 per share in 2019 and marks the 34th consecutive year of dividend increases by the financial services company.

The next dividend is payable on November 13, 2020, to common shareholders of record on November 3, 2020. A new annual rate of $2.16 per share yields 3.7% at a stock price of $58.31.

Tompkins Financial Corporation is a financial services company serving the Central, Western, and Hudson Valley regions of New York and the Southeastern region of Pennsylvania. Headquartered in Ithaca, NY, Tompkins Financial is parent to Tompkins Trust Company, Tompkins Bank of Castile, Tompkins Mahopac Bank, Tompkins VIST Bank, Tompkins Insurance Agencies, Inc., and offers wealth management services through Tompkins Financial Advisors.