NorthEast Community Bancorp, Inc. Announces Quarterly Cash Dividend
NorthEast Community Bancorp announced a quarterly cash dividend of $0.03 per common share, payable on or about May 7, 2021 to stockholders on record by April 9, 2021. The MHC, the company's majority stockholder, has chosen to waive receipt of this dividend after obtaining regulatory non-objection. NorthEast Community Bank, which the Company holds, operates six branches in New York and three in Massachusetts, along with loan offices in New York.
- Dividend of $0.03 per share will be distributed to shareholders.
- Regulatory non-objection received for MHC's decision to waive the dividend.
- Waiving of the dividend by the MHC could indicate liquidity concerns.
WHITE PLAINS, N.Y., March 18, 2021 (GLOBE NEWSWIRE) -- NorthEast Community Bancorp, Inc. (OTCPX: NECB) (the “Company”) today announced that its Board of Directors declared a quarterly cash dividend of
NorthEast Community Bancorp, MHC (the “MHC”), the Company’s majority stockholder, having previously received the requisite regulatory non-objection, has determined to waive receipt of the quarterly dividend.
NorthEast Community Bancorp, Inc. is the holding company for NorthEast Community Bank. NorthEast Community Bank is a New York State chartered savings bank that operates six full-service branches in New York and three full-service branches Massachusetts and loan production offices in White Plains and New City, New York.
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