Greene County Bancorp announces a quarterly cash dividend of $0.09 per share, reflecting stable annual rates.
Quiver AI Summary
Greene County Bancorp, Inc. has declared a quarterly cash dividend of $0.09 per share, maintaining the same annual dividend rate of $0.36 per share as the previous quarter. The dividend will be paid to shareholders on May 30, 2025, for those on record by May 16, 2025. The company's majority owner, Greene County Bancorp, MHC, is waiving its right to receive this dividend, having secured approval from the Federal Reserve Bank of Philadelphia to do so for dividends across four quarters, including the current one. Greene County Bancorp is the parent company of the Bank of Greene County and Greene County Commercial Bank, both located in Catskill, New York, primarily serving the Hudson Valley and Capital District regions.
Potential Positives
- The approval of a quarterly cash dividend of $0.09 per share indicates the company's commitment to returning value to its shareholders.
- The consistency of the dividend rate at $0.36 per share annually suggests financial stability and sound management practices within the company.
- The waiver of dividend receipt by the MHC, with the nonobjection from the Federal Reserve, highlights the company's transparency and regulatory compliance.
- The dividend payment is expected to bolster shareholder confidence and potentially attract new investors, benefiting the company's stock performance.
Potential Negatives
- The decision to maintain the dividend at the same rate as the previous quarter may signal stagnation in financial growth or profitability, potentially leading to investor concerns about the company's future performance.
- The waiver of the dividend by the majority-owned MHC could indicate a lack of confidence in the financial position of the company or a strategic decision that may not align with shareholder interests.
- The requirement for Federal Reserve approval for dividend waivers suggests regulatory scrutiny, which could raise concerns about the company's financial governance and stability.
FAQ
What is the current quarterly cash dividend for Greene County Bancorp, Inc.?
The quarterly cash dividend is $0.09 per share on the Company’s common stock.
When will the dividend be paid to shareholders?
The dividend will be paid on May 30, 2025, to shareholders of record as of May 16, 2025.
What is the annual dividend rate for Greene County Bancorp?
The annual cash dividend rate remains at $0.36 per share, consistent with the previous quarter.
Who owns the majority of Greene County Bancorp, Inc.?
Greene County Bancorp, MHC owns 54.1% of the Company’s outstanding common shares.
What banks are part of Greene County Bancorp, Inc.?
The Company includes the Bank of Greene County and Greene County Commercial Bank, both headquartered in Catskill, New York.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$GCBC Insider Trading Activity
$GCBC insiders have traded $GCBC stock on the open market 8 times in the past 6 months. Of those trades, 8 have been purchases and 0 have been sales.
Here’s a breakdown of recent trading of $GCBC stock by insiders over the last 6 months:
- TEJRAJ S HADA has made 4 purchases buying 9,000 shares for an estimated $219,760 and 0 sales.
- JAY P. CAHALAN has made 2 purchases buying 3,744 shares for an estimated $99,910 and 0 sales.
- NICK BARZEE (SVP and CFO) has made 2 purchases buying 1,732 shares for an estimated $47,748 and 0 sales.
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
$GCBC Hedge Fund Activity
We have seen 29 institutional investors add shares of $GCBC stock to their portfolio, and 17 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- FMR LLC removed 231,539 shares (-25.5%) from their portfolio in Q4 2024, for an estimated $6,418,261
- UBS GROUP AG added 32,808 shares (+716.5%) to their portfolio in Q4 2024, for an estimated $909,437
- LPL FINANCIAL LLC added 27,204 shares (+417.6%) to their portfolio in Q4 2024, for an estimated $754,094
- BLACKROCK, INC. added 24,142 shares (+5.7%) to their portfolio in Q4 2024, for an estimated $669,216
- MILLENNIUM MANAGEMENT LLC added 14,523 shares (+inf%) to their portfolio in Q4 2024, for an estimated $402,577
- JPMORGAN CHASE & CO added 13,918 shares (+127.2%) to their portfolio in Q4 2024, for an estimated $385,806
- STONERIDGE INVESTMENT PARTNERS LLC added 13,155 shares (+inf%) to their portfolio in Q4 2024, for an estimated $364,656
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
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
[email protected]
