Greene County Bancorp, Inc. has announced a quarterly cash dividend of $0.08 per share on the Company’s common stock. This reflects an annual cash dividend rate of $0.32 per share, consistent with the dividend declared during the previous quarter.
The cash dividend for the quarter ended March 31, 2024, will be paid to shareholders of record as of May 15, 2024, and is expected to be paid on May 30, 2024.
The Company's majority-owned subsidiary, Greene County Bancorp, MHC, which owns 54.1% of the Company’s outstanding common shares, is waiving its receipt of this dividend. The MHC received the nonobjection of the Federal Reserve Bank of Philadelphia to waive its right to receive dividends, aggregating up to $0.46 per share, paid by the Company during the four quarters ending with the quarters that end on September 30, 2023, December 31, 2023, March 31, 2024, and June 30, 2024.
Greene County Bancorp, Inc. is the direct and indirect holding company for The Bank of Greene County, a federally chartered savings bank, and Greene County Commercial Bank, a New York-chartered commercial bank. Both banks are headquartered in Catskill, New York, and serve the market area concentrated around the areas within the Hudson Valley Region of New York. As a result of these announcements, the company's shares have moved -1.6% on the market, and are now trading at a price of $27.26. Check out the company's full 8-K submission here.
