Gouverneur Bancorp, Inc. Announces Semi-Annual Cash Dividend

Rhea-AI Summary

Gouverneur Bancorp (OTCQB: GOVB) has declared a semi-annual cash dividend of $0.08 per common share, payable on May 19, 2025, to shareholders of record as of May 5, 2025. This represents the second consecutive semi-annual dividend since the Bank's conversion from mutual holding company to stock holding company structure.

The company, through its subsidiary Gouverneur Savings and Loan Association, provides deposit and loan services for businesses, families, and individuals. As of December 31, 2024, the company reported:

• Total assets: $196.8 million
• Total deposits: $159.7 million
• Total stockholders' equity: $31.7 million

Positive

• Consistent dividend payments maintained with second consecutive semi-annual distribution
• Strong balance sheet with $196.8 million in total assets
• Healthy deposit base of $159.7 million
• Solid equity position with $31.7 million in stockholders' equity

Negative

• None.

GOUVERNEUR, N.Y., April 21, 2025 (GLOBE NEWSWIRE) -- Gouverneur Bancorp, Inc. (OTCQB Marketplace: GOVB) (the “Company”), the holding company for Gouverneur Savings and Loan Association (the “Bank”), announced today that its Board of Directors has declared a semi-annual cash dividend of $0.08 per common share. The dividend will be paid on or about May 19, 2025 to shareholders of record as of the close of business on May 5, 2025.  

This marks the second consecutive semi-annual cash dividend for the Company since the completion of the Bank’s conversion from the mutual holding company form of organization to the stock holding company form of organization.

About Gouverneur Bancorp, Inc.

Gouverneur Bancorp, Inc. is the holding company for Gouverneur Savings and Loan Association, which is a New York chartered savings and loan association founded in 1892 that offers deposit and loan services for businesses, families and individuals. At December 31, 2024, the Company had total assets of $196.8 million, total deposits of $159.7 million and total stockholders’ equity of $31.7 million.

Forward-Looking Statements

This press release may contain forward-looking statements, which can be identified by the use of words such as “believes,” “expects,” “anticipates,” “estimates” or similar expressions. Such forward-looking statements and all other statements that are not historic facts are subject to risks and uncertainties which could cause actual results to differ materially from those currently anticipated due to a number of factors. These factors include, among others, the ability to successfully integrate acquired entities and realize expected cost savings associated with completed mergers and acquisitions; changes in interest rates; national and regional economic conditions; legislative and regulatory changes; monetary and fiscal policies of the U.S. government, including policies of the U.S. Treasury and the Federal Reserve Board; the impacts of tariffs, sanctions and other trade policies of the United States and its global trading counterparts; the size, quality and composition of the loan or investment portfolios; demand for loan products; deposit flows and our ability to effectively manage liquidity; competition; demand for financial services in our market area; changes in real estate market values in our market area; changes in relevant accounting principles and guidelines; the impact of failures or disruptions in or breaches of the Company’s operational or security systems, data or infrastructure, or those of third parties, including as a result of cyberattacks or campaigns; and our ability to attract and retain key employees. Additionally, other risks and uncertainties may be described in our annual and quarterly reports filed with the U.S. Securities and Exchange Commission (the “SEC”), which are available through the SEC’s website located at www.sec.gov. These risks and uncertainties should be considered in evaluating forward-looking statements and undue reliance should not be placed on such statements. Should one or more of these risks materialize, actual results may vary from those anticipated, estimated or projected. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Except as may be required by applicable law or regulation, the Company assumes no obligation to update any forward-looking statements.

CONTACT:
Robert W. Barlow
President and Chief Executive Officer
(315) 287-2600

FAQ

When will Gouverneur Bancorp (GOVB) pay its next dividend?

Gouverneur Bancorp will pay a $0.08 per share dividend on May 19, 2025, to shareholders of record as of May 5, 2025.

What are Gouverneur Bancorp's (GOVB) key financial metrics as of December 2024?

As of December 31, 2024, GOVB reported total assets of $196.8 million, deposits of $159.7 million, and stockholders' equity of $31.7 million.

How many consecutive semi-annual dividends has GOVB paid since its conversion?

This marks GOVB's second consecutive semi-annual cash dividend since converting from a mutual holding company to a stock holding company structure.

What is the dividend yield for Gouverneur Bancorp's (GOVB) semi-annual payment?

The dividend amount is $0.08 per share paid semi-annually, but the yield percentage cannot be calculated without the current stock price.