Greene County Bancorp, Inc. Announces Cash Dividend
October 21 2020 - 9:32AM
Greene County Bancorp, Inc. (NASDAQ-GCBC) today announced that its
Board of Directors has approved a quarterly cash dividend of $0.12
per share on the Company’s common stock. The dividend reflects an
annual cash dividend rate of $0.48 per share, which is the same
rate as the dividend declared during the previous quarter.
The cash dividend for the quarter ended
September 30, 2020 will be paid to shareholders of record as of
November 13, 2020, and is expected to be paid on November 30,
2020.
The Company is the majority-owned subsidiary of
Greene County Bancorp, MHC (the “MHC”), a federal mutual holding
company which owns 54.1% 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 for the four
quarters ending with the quarters that end on December 31, 2019,
March 31, 2020, June 30, 2020 and September 30, 2020.
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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