Greene County Bancorp, Inc. Announces Cash Dividend Increase

Rhea-AI Summary

Greene County Bancorp (NASDAQ:GCBC) has announced a quarterly cash dividend increase. The Board approved a quarterly dividend of $0.10 per share, reflecting an annual rate of $0.40 per share - an 11.1% increase from the previous $0.36 per share.

The dividend will be paid to shareholders of record as of August 15, 2025, with payment expected on August 29, 2025. Greene County Bancorp, MHC, which owns 54.1% of outstanding shares, will waive its receipt of this dividend, having received Federal Reserve Bank of Philadelphia's nonobjection for dividends up to $0.48 per share through September 30, 2025.

Positive

• Dividend increased by 11.1% to $0.40 annual rate
• Federal Reserve approved MHC's dividend waiver through September 2025
• Parent company waiving its 54.1% dividend share, benefiting other shareholders

Negative

• None.

CATSKILL, N.Y., July 16, 2025 (GLOBE NEWSWIRE) -- Greene County Bancorp, Inc. (NASDAQ-GCBC) today announced that its Board of Directors has approved a quarterly cash dividend of $0.10 per share on the Company’s common stock. The dividend reflects an annual cash dividend rate of $0.40 per share which represents an 11.1% increase from the previous annual cash dividend of $0.36 per share.

The cash dividend for the quarter ended June 30, 2025, will be paid to shareholders of record as of August 15, 2025, and is expected to be paid on August 29, 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 Greene County Bancorp's (GCBC) new dividend amount?

GCBC's new quarterly dividend is $0.10 per share, representing an annual rate of $0.40 per share, an 11.1% increase from the previous $0.36 annual rate.

When will GCBC pay its latest quarterly dividend?

The dividend will be paid on August 29, 2025 to shareholders of record as of August 15, 2025.

How much of GCBC stock does Greene County Bancorp, MHC own?

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

What is the dividend waiver approval received by Greene County Bancorp?

The Federal Reserve Bank of Philadelphia approved MHC to waive dividends up to $0.48 per share for the four quarters ending December 31, 2024, through September 30, 2025.

What is the percentage increase in GCBC's annual dividend?

GCBC increased its annual dividend by 11.1%, from $0.36 per share to $0.40 per share.