CATSKILL, N.Y., April 18, 2018 (GLOBE NEWSWIRE) -- Greene County Bancorp, Inc. (NASDAQ:GCBC) today announced
that its Board of Directors has approved a quarterly cash dividend of $0.0975 per share on the Company’s common stock. The dividend
reflects an annual cash dividend rate of $0.39 per share, which is the same rate as the dividend declared during the previous
quarter.
The cash dividend for the quarter ended March 31, 2018 will be paid to shareholders of record as of May 15,
2018, and is expected to be paid on May 31, 2018.
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 approval of its members (depositors of The Bank of Greene County) and the non-objection of the Federal Reserve
Bank of Philadelphia to waive the MHC’s receipt of quarterly cash dividends aggregating up to $0.40 per share to be declared by the
Company for the four quarters ending March 31, 2018.
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