Item 8.01 Other Events
On July 22, 2020, Greene County Bancorp, Inc. (NASDAQ-GCBC) 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 represents a 9.1% increase from the previous annual
cash dividend rate of $0.44 per share.
A press release announcing the details of the dividend declaration is filed as
exhibit 99.1.
Greene County Bancorp, MHC (the "MHC"), the mutual holding company and majority
stockholder of the Company, and owner of 4,609,264 shares of the Company's
8,513,414 total shares of common stock outstanding, has historically waived its
right to receive cash dividends from the Company. The MHC intends to waive its
receipt of these dividends to be paid by the Company for the quarter ended June
30, 2020.
Item 9.01 Financial Statements and Exhibits
Exhibit No. Description
99.1 Press release dated July 22, 2020
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