CATSKILL, NY Oct. 19, 2022 (GLOBE NEWSWIRE) — Greene County Bancorp, Inc. (NASDAQ-GCBC) announced today that its Board of Directors has approved a quarterly cash dividend of $0.14 per share on the Company’s common stock. The dividend reflects an annual cash dividend of $0.56 per share, the same rate as the dividend declared in the prior quarter.
The cash dividend for the quarter ended September 30, 2022 will be paid to shareholders of record on November 15, 2022 and is expected to be paid on November 30, 2022.
The Company is the majority-owned subsidiary of Greene County Bancorp, MHC (the “MHC”), a state mutual holding company that owns 54.1% of the Company’s outstanding common stock. MHC will not receive this dividend. The MHC obtained the consent of its members (Bank of Greene County depositors) and the non-objections of the Federal Reserve Bank of Philadelphia to waive the Company’s receipt of quarterly cash dividends totaling up to $0.60 per share for the four quarters, ending with the quarters ended June 30, 2022, September 30, 2022, December 31, 2022 and March 31, 2023.
Greene County Bancorp, Inc. is the direct and indirect holding company, respectively, of The Bank of Greene County, a state-chartered thrift 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 in the areas within the Hudson Valley region of New York.
For more information contact:
Donald E Gibson
President and Chief Executive Officer
(518) 943-2600
donaldg@tbogc.com
