Cortland Bancorp declares dividend

CORTLAND – Cortland Bancorp this week announced a cash dividend of $0.03 per share on its stocks.

The dividend, approved this week by the company’s board of directors, will be payable Nov. 29 to shareholders of record on Nov. 12.

“The continuing payment of a dividend reflects our continued confidence in the financial performance and direction of our company, supported by strong core earnings, increasing loan production, and capital ratios which exceed regulatory thresholds for ‘well capitalized’ financial institutions,” said James Gasior, chief executive officer.