Cortland Bancorp approved a quarterly cash dividend of $0.14 per share, payable on March 2, 2020. It will be paid to shareholders of record as of the close of business on February 10, 2020.

Company declared a special $0.05 cash dividend, payable March 2, 2020. The special dividend rewards the Company's shareholders for the consistently profitable performance by the Company and is afforded by the Company's strong capital position.