Arrow Declares December Cash Dividend; Approves 2022 Stock Repurchase Program

GLENS FALLS — The Board of Directors of Arrow Financial Corporation (NasdaqGS® – AROW) on Oct. 27, 2021, declared a quarterly cash dividend of $0.26 per share payable Dec. 15, 2021, to shareholders of record on Dec. 2, 2021. This represents an increase of 3% over the cash dividend paid in the fourth quarter of 2020, as a result of the 3% stock dividend distributed on Sept. 4, 2021. The Board of Directors of Arrow Financial Corporation (NasdaqGS® – AROW) on Oct. 27, 2021.

The Board of Directors of Arrow Financial Corporation (NasdaqGS® – AROW) on Oct. 27, 2021, 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 for the 2022 calendar year, in open market or negotiated transactions. This new repurchase program will replace the prior $5 million repurchase program authorized on Jan, 27, 2021, which expires Dec. 31, 2021. Through Sept. 30, 2021, the Company had repurchased approximately $1.46 million of Company common stock under the 2021 program.