TMCnet News
GREENE COUNTY BANCORP INC FILES (8-K) Disclosing Other Events, Financial Statements and Exhibits(Edgar Glimpses Via Acquire Media NewsEdge) Item 8.01 Other Events On October 23, 2014, Greene County Bancorp, Inc. (the "Company") announced that its Board of Directors has approved the continuation of the Company's regular quarterly cash dividend of $0.18 per share, reflecting an annual cash dividend rate of $0.72 per share. A press release announcing the details of the dividend declaration is filed as exhibit 99.1. Greene County Bancorp, MHC (the "MHC"), the mutual holding company and majority stockholder of the Company which owns 2,304,632 shares of the Company's 4,216,857 total shares of common stock outstanding, has waived its right to receive the dividends on its shares. Accordingly, the dividend is expected to be paid only on the 1,912,225 shares of common stock owned by minority stockholders of the Company. 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 its receipt of dividends for the quarters ending March 31, 2014; June 30, 2014; September 30, 2014 and December 31, 2014. Item 9.01 Financial Statements and Exhibits Exhibit No. Description 99.1 Press release dated October 23, 2014 -------------------------------------------------------------------------------- |