UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D) OF
THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): January 17, 2024
GREENE COUNTY BANCORP, INC.
(Exact Name of Registrant as Specified in its Charter)
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United States of America
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0-25165
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14-1809721
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(State or Other Jurisdiction of Incorporation)
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(Commission File No.)
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(I.R.S. Employer Identification No.) |
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302 Main Street, Catskill NY
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12414
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(Address of Principal Executive Offices)
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(Zip Code)
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| Registrant’s telephone number, including area code: |
(518)
943-2600 |
Not Applicable
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following
provisions (see General Instruction A.2. below):
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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Securities registered pursuant to Section 12(b) of the Act:
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Title of class
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Trading symbol
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Name of exchange on which registered Common
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Common Stock, $0.10 par value
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GCBC
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The Nasdaq Stock Market
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this
chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new
or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
On January 17, 2024, 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 is the same rate as the dividend declared during the previous quarter.
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, and owner of 9,218,528 shares of the Company’s 17,026,828
total shares of common stock outstanding, has historically waived its right to receive cash dividends from the Company. The MHC intends to waive its receipt of these dividends to be paid by the Company for the quarter ended December 31, 2023.
| Item 9.01 |
Financial Statements and Exhibits
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Exhibit No.
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Description
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Press release dated January 17, 2024
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Exhibit Number
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Description
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104
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Cover Page Interactive Data File (embedded within the Inline XBRL document)
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the
undersigned, hereunto duly authorized.
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GREENE COUNTY BANCORP, INC.
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DATE: January 17, 2024
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By:
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/s/ Donald E. Gibson |
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Donald E. Gibson
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President & Chief Executive Officer
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Exhibit 99.1
FOR IMMEDIATE RELEASE
Date: January 17, 2024
For Further Information Contact:
Donald E. Gibson
President and Chief Executive Officer
(518) 943-2600
donaldg@tbogc.com
GREENE COUNTY BANCORP, INC. ANNOUNCES CASH DIVIDEND
Catskill, NY – January 17, 2024. 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 is the same rate as the dividend declared during the previous quarter.
The cash dividend for the quarter ended December 31, 2023 will be paid to shareholders of record as of February 15, 2024, and is expected to be paid on
February 28, 2024.
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 $0.46 per share, paid by the
Company during the four quarters ending with the quarters that end on September 30, 2023, December 31, 2023, March 31, 2024, and June 30, 2024.
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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.
(END)