The Board of Directors of Arrow Financial Corporation on April 29, 2009 approved a new stock repurchase program authorizing the repurchase, at the discretion of senior management, of up to $5 million of the Company's common stock over the next twelve months in open market or negotiated transactions.
Also, the Board declared a quarterly cash dividend of twenty five cents. per share. This is an increase from their dividend one year ago of $.24 per share. Arrow Financial Corporation is a multi-bank holding company headquartered in Glens Falls, NY serving the financial needs of northeastern New York.
In other dividend news, Chevron Corporation New (NYSE:CVX) announced its quarterly dividend of 65 cents per share. Qwest Communications (NYSE:Q) announced its quarterly dividend of 8 cents per share. Moodys Corporation (NYSE:MCO) announced its quarterly dividend of 10 cents per share. Smith International Incorporated (SII) announced its quarterly dividend of 12 cents per share.
In dividend increase news, Exxon Mobil (NYSE:XOM) announced its quarterly dividend of 42 cents per share, an increase of 5% over the dividend a year ago of 40 cents. Exelon Corporation (NYSE:EXC) announced its quarterly dividend of 52.5 cents per share, an increase of 5% over the dividend a year ago of 50 cents. Praxair (NYSE:PX) announced its quarterly dividend of 40 cents per share, an increase of 6.67% over the dividend a year ago of 37.5 cents. Costco (NASDAQ:COST) announced its quarterly dividend of 18 cents per share, an increase of 12.50% over the dividend a year ago of 16 cents.
In dividend reduction news, Wells Fargo & Company (NYSE:WFC) announced its quarterly dividend of 5 cents per share, a decrease of 83.87% over the dividend a year ago of 31 cents. Suncor Energy (NYSE:SU) announced its quarterly dividend of 5 cents per share, a decrease of 1.96% over the dividend a year ago of 5.1 cents. Talisman Energy (NYSE:TLM) announced a dividend of 9.36 cents per share, a decrease of 5.45% over the dividend a year ago of 9.9 cents. Jones Lang Lasalle (NYSE:JLL) announced a dividend of 10 cents per share, a decrease of 80.00% over the dividend a year ago of 50 cents.
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