GREENE COUNTY BANCORP : ANNOUNCES CASH DIVIDEND - Form 8-K
April 20, 2022 at 01:46 pm EDT
Share
GREENE COUNTY BANCORP, INC. ANNOUNCES CASH DIVIDEND
Catskill, NY - April 20, 2022. Greene County Bancorp, Inc. (NASDAQ-GCBC) today announced that its Board of Directors has approved a quarterly cash dividend of $0.13 per share on the Company's common stock. The dividend reflects an annual cash dividend rate of $0.52 per share, which is the same rate as the dividend declared during the previous quarter.
The cash dividend for the quarter ended March 31, 2022 will be paid to shareholders of record as of May 13, 2022, and is expected to be paid on May 31, 2022.
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 March 31, 2022.
* * *
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.
(END)
Attachments
Original Link
Original Document
Permalink
Disclaimer
Greene County Bancorp Inc. published this content on 20 April 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 20 April 2022 17:44:02 UTC.
Greene County Bancorp, Inc. operates as the holding company of The Bank of Greene County (the Bank). The Bankâs principal business consists of attracting retail deposits from the general public in the areas surrounding its branches and investing those deposits, together with funds generated from operations and borrowings, primarily in residential mortgage loans, commercial real estate mortgage loans, consumer loans, home equity loans and commercial business loans. In addition, The Bank invests a significant portion of its assets in state and political subdivision securities and mortgage-backed securities. The Bank offers investment alternatives for customers. The Bank operates a subsidiary, Greene County Commercial Bank, which receives deposits only to the extent of accepting for deposit the funds of the United States and the state of New York and their respective agents, authorities and instrumentalities, and local governments. The Bank also operates a real estate investment trust.