Greene County Bancorp, Inc. Announces Cash Dividend

Rhea-AI Summary

Greene County Bancorp (NASDAQ-GCBC) has announced a quarterly cash dividend of $0.12 per share for the quarter ending December 31, 2020. This maintains an annual dividend rate of $0.48, consistent with the previous quarter. The dividend is payable on February 26, 2021, to shareholders of record as of February 15, 2021. The company’s majority owner, Greene County Bancorp, MHC, which usually waives cash dividends, will not do so for this payment, indicating a focus on cash flow and liquidity.

Positive

• Quarterly cash dividend of $0.12 per share, maintaining annual rate of $0.48.
• MHC will not waive cash dividends, indicating strong cash flow management.

Negative

• None.

CATSKILL, N.Y., Jan. 20, 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 December 31, 2020 will be paid to shareholders of record as of February 15, 2021, and is expected to be paid on February 26, 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 has historically waived its right to receive cash dividends from the Company. However, for purposes of cash flow and liquidity, the MHC does not intend to waive its receipts of these dividends to be paid by the Company for the quarter ended December 31, 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. Gibson
President and Chief Executive Officer
(518) 943-2600
donaldg@tbogc.com 

FAQ

What is the dividend amount for GCBC for the quarter ending December 31, 2020?

The dividend amount for GCBC is $0.12 per share.

When is the dividend for GCBC scheduled to be paid?

The dividend is scheduled to be paid on February 26, 2021.

What is the record date for the GCBC dividend?

The record date for the dividend is February 15, 2021.

What is the annual dividend rate for GCBC?

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