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Flying straight as an arrow, multi-bank holding company Arrow Financial (NASDAQ: AROW ) said yesterday it will pay a regular quarterly dividend of $0.25 per share on June 14 to the holders of record at the close of business on June 3. This is the same pay it has made quarter in, quarter out for the last five years.
However, in September 2012, Arrow paid a 2% dividend to its shareholders, represented by giving them two shares of stock for every 100 shares owned. The current payment is 2% higher than the cash dividend paid in the second quarter of 2012.
Headquartered in Glens Falls, NY, Arrow Financial is the parent of Glens Falls National Bank and Trust Company, and Saratoga National Bank and Trust Company. It also owns several property and casualty insurance agencies, and a group health insurance provider.
The most recent dividend payment equates to a $1.00-per-share annual dividend yielding 4.2% based on the closing price of Arrow Financial's stock on May 1.