Greene County Bancorp, Inc. Announces Cash Dividend
January 16 2019 - 9:00AM
Greene County Bancorp, Inc. (NASDAQ-GCBC) today announced that its
Board of Directors has approved a quarterly cash dividend of $0.10
per share on the Company’s common stock. The dividend reflects an
annual cash dividend rate of $0.40 per share, which is the same
rate as the dividend declared during the previous quarter.
The cash dividend for the quarter ended December
31, 2018 will be paid to shareholders of record as of February 15,
2019, and is expected to be paid on February 28, 2019.
The Company is the majority-owned subsidiary of
Greene County Bancorp, MHC (the “MHC”), a federal mutual holding
company which owns 54.0% of the Company’s outstanding common
shares. The MHC is waiving its receipt of this
dividend. The MHC received the approval of its members
(depositors of The Bank of Greene County) and the non-objection of
the Federal Reserve Bank of Philadelphia to waive the MHC’s receipt
of quarterly cash dividends aggregating up to $0.50 per share, paid
by the Company during the four quarters ending with the quarters
that end on September 30, 2018, December 31, 2018, March 31, 2019
and June 30, 2019.
Greene County Bancorp, Inc. is the direct and
indirect holding company, respectively, for The Bank of Greene
County, a federally chartered savings bank, and Greene County
Commercial Bank, a New York-chartered commercial bank, both
headquartered in Catskill, New York. The Banks serve the
market area currently concentrated around the areas within the
Hudson Valley Region of New York.
For Further Information
Contact:Donald E. GibsonPresident and Chief Executive
Officer(518) 943-2600donaldg@tbogc.com
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