Greene County Bancorp, Inc. Announces Cash Dividend

Rhea-AI Summary

Greene County Bancorp, Inc. (NASDAQ-GCBC) has announced a quarterly cash dividend of $0.09 per share on its common stock. This reflects an annual cash dividend rate of $0.36 per share, consistent with the previous quarter's dividend. The dividend for the quarter ended September 30, 2024, will be paid to shareholders of record as of November 15, 2024, with an expected payment date of November 29, 2024.

Greene County Bancorp, MHC, which owns 54.1% of the Company's outstanding common shares, does not intend to waive its receipt of these dividends for the quarter ended September 30, 2024. The Company is the holding company for The Bank of Greene County and Greene County Commercial Bank, operating primarily in the Hudson Valley Region and Capital District Region of New York State.

Positive

• Consistent quarterly dividend of $0.09 per share maintained
• Annual cash dividend rate of $0.36 per share unchanged from previous quarter
• Majority shareholder (MHC) not waiving dividend receipt, potentially indicating financial stability

Negative

• None.

News Market Reaction

+0.20%

1 alert

+0.20% News Effect

On the day this news was published, GCBC gained 0.20%, reflecting a mild positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

CATSKILL, N.Y., Oct. 16, 2024 (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 September 30, 2024 will be paid to shareholders of record as of November 15, 2024, and is expected to be paid on November 29, 2024.

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 dividends from the Company. However, for purposes of cash flow, the MHC does not intend to waive its receipts of these dividends to be paid by the Company for the quarter ended September 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 headquartered in Catskill, New York. Our primary market are 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 for Greene County Bancorp (GCBC) for Q3 2024?

Greene County Bancorp (GCBC) has declared a quarterly cash dividend of $0.09 per share for the quarter ended September 30, 2024.

When will Greene County Bancorp (GCBC) pay its Q3 2024 dividend?

The dividend for the quarter ended September 30, 2024, is expected to be paid on November 29, 2024, to shareholders of record as of November 15, 2024.

What is the annual dividend rate for Greene County Bancorp (GCBC) based on the Q3 2024 announcement?

The announced quarterly dividend of $0.09 per share reflects an annual cash dividend rate of $0.36 per share for Greene County Bancorp (GCBC).

Has Greene County Bancorp (GCBC) changed its dividend rate compared to the previous quarter?

No, Greene County Bancorp (GCBC) has maintained the same dividend rate as the previous quarter, with an annual cash dividend rate of $0.36 per share.