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Greene County Bancorp, Inc. Announces Cash Dividend Increase
Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Neutral)
Tags
dividends
Rhea-AI Summary
Greene County Bancorp, Inc. (NASDAQ-GCBC) has approved a quarterly cash dividend of $0.08 per share on its common stock, representing a 14.3% increase from the previous dividend. The dividend will be paid on August 31, 2023.
Positive
Greene County Bancorp, Inc. has increased its quarterly cash dividend by 14.3% to $0.08 per share, which could positively impact the stock price.
Negative
None.
CATSKILL, N.Y., July 19, 2023 (GLOBE NEWSWIRE) -- Greene County Bancorp, Inc. (NASDAQ-GCBC) today announced that its Board of Directors has approved a quarterly cash dividend of $0.08 per share on the Company’s common stock. The dividend reflects an annual cash dividend rate of $0.32 per share which represents a 14.3% increase from the previous annual cash dividend of $0.28 per share.
The cash dividend for the quarter ended June 30, 2023 will be paid to shareholders of record as of August 14, 2023, and is expected to be paid on August 31, 2023.
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 June 30, 2023.
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.
For Further Information Contact: Donald E. Gibson President and Chief Executive Officer (518) 943-2600 donaldg@tbogc.com
The dividend rate for Greene County Bancorp, Inc. common stock is $0.08 per share.
The dividend will be paid on August 31, 2023.
The dividend has increased by 14.3% from the previous dividend.
we are a community-based financial institution focused on developing relationships with our customers and the communities we serve. our unique products set us apart, and make us the bank of choice in our market place. and our knowledgeable, caring staff differentiates us by serving as advisors to both consumers and businesses. our select products and services include e-checking and e-savings accounts, commercial and residential loans and mortgages, merchant credit card processing, investment services and our visa® rewards and greene loyalty program. the foundation of our success is based on the values, principles and service that our communities, customers, shareholders, and employees have been experiencing for over 100 years - "banking at its best!".
