Greene County Bancorp, Inc. Announces Cash Dividend

Rhea-AI Summary

Greene County Bancorp (NASDAQ:GCBC) has declared a quarterly cash dividend of $0.09 per share, maintaining an annual dividend rate of $0.36 per share. The dividend will be paid on May 30, 2025, to shareholders of record as of May 16, 2025.

Greene County Bancorp, MHC, which owns 54.1% of the company's outstanding shares, has received approval from the Federal Reserve Bank of Philadelphia to waive its dividend rights for up to $0.48 per share across four quarters ending September 30, 2025.

Positive

• Maintained stable quarterly dividend of $0.09 per share
• MHC received Federal Reserve approval for dividend waiver up to $0.48 per share

Negative

• No dividend growth compared to previous quarter

CATSKILL, N.Y., April 16, 2025 (GLOBE NEWSWIRE) -- Greene County Bancorp, Inc. (NASDAQ-GCBC) today announced that its Board of Directors has approved a quarterly cash dividend of $0.09 per share on the Company’s common stock. The dividend reflects an annual cash dividend rate of $0.36 per share, which is the same rate as the dividend declared during the previous quarter.

The cash dividend for the quarter ended March 31, 2025 will be paid to shareholders of record as of May 16, 2025, and is expected to be paid on May 30, 2025.

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 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 $0.48 per share, paid by the Company during the four quarters ending with the quarters that end on December 31, 2024, March 31, 2025, June 30, 2025, and September 30, 2025.

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 headquartered in Catskill, New York. Our primary market is the Hudson Valley Region and Capital District Region in New York State. For more information on Greene County Bancorp, Inc., visit www.tbogc.com.

For Further Information Contact:
Donald E. Gibson
President and Chief Executive Officer
(518) 943-2600
donaldg@tbogc.com

FAQ

What is the quarterly dividend amount announced by Greene County Bancorp (GCBC) for Q1 2025?

Greene County Bancorp announced a quarterly cash dividend of $0.09 per share for Q1 2025.

When is the payment date for GCBC's latest dividend?

The dividend will be paid on May 30, 2025, to shareholders of record as of May 16, 2025.

How much of GCBC's shares are owned by Greene County Bancorp, MHC?

Greene County Bancorp, MHC owns 54.1% of GCBC's outstanding common shares.

What is the annual dividend rate for Greene County Bancorp (GCBC) shares?

The annual cash dividend rate is $0.36 per share, unchanged from the previous quarter.

For which quarters has the MHC received approval to waive dividends for GCBC?

The MHC received approval to waive dividends for quarters ending December 31, 2024, March 31, 2025, June 30, 2025, and September 30, 2025.