Greene County Bancorp, Inc. Announces Cash Dividend

Rhea-AI Summary

Greene County Bancorp, Inc. (NASDAQ-GCBC) announced a quarterly cash dividend of $0.12 per share, maintaining an annual rate of $0.48 per share, consistent with the previous quarter. The dividend is payable to shareholders of record as of May 15, 2021, with a payment date of May 28, 2021. The majority owner, Greene County Bancorp, MHC, is waiving its dividend receipt, approved by its members and the Federal Reserve Bank of Philadelphia, for total dividends up to $0.60 per share for four quarters ending March through December 2021.

Positive

• Quarterly cash dividend of $0.12 per share demonstrates consistent return for investors.
• The annual dividend rate of $0.48 reflects stability in financial performance.

Negative

• None.

CATSKILL, N.Y., April 21, 2021 (GLOBE NEWSWIRE) -- 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 March 31, 2021 will be paid to shareholders of record as of May 15, 2021, and is expected to be paid on May 28, 2021.

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 $0.60 per share, paid by the Company for the four quarters ending with the quarters that end on March 31, 2021, June 30, 2021, September 30, 2021 and December 31, 2021.

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. Gibson
President and Chief Executive Officer
(518) 943-2600
donaldg@tbogc.com

FAQ

What is the dividend amount for GCBC in 2021?

The dividend amount for Greene County Bancorp, Inc. (GCBC) in 2021 is $0.12 per share.

When is the dividend payment date for GCBC?

The dividend payment date for GCBC is May 28, 2021.

Who is waiving the dividend for GCBC?

The majority owner, Greene County Bancorp, MHC, is waiving its receipt of the dividend.

How much is the annual dividend rate for GCBC?

The annual dividend rate for GCBC is $0.48 per share.

Who is eligible to receive the GCBC dividend?

Shareholders of record as of May 15, 2021, are eligible to receive the dividend.