Cortland Bancorp announced that its Board of Directors is increasing its quarterly cash dividend to $0.08 per share from $0.07 per share.  The dividend will be payable on March 1, 2017, to shareholders of record as of the close of business on February 10, 2017.

In addition to raising its quarterly dividend, the Board declared a special year-end dividend for $0.07 per share, also payable March 1, 2017, to shareholders of record on February 10, 2017.