Greene County Bancorp, Inc. (NASDAQ:GCBC) has declared a quarterly cash dividend of $0.17 per share of the company’s common stock. The dividend will be payable to shareholders of record February 12, 2010, on March 2, 2010. The dividends reflect an annual cash dividend rate of $0.68 per share.
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Green County Bancorp is the majority owned subsidiary of Greene County Bancorp, MHC. Green County Bancorp, MHC is a federal mutual holding company that owns 56.0% of the company’s outstanding shares. It has waived its right to receive dividends on its shares.
Greene County Bancorp, Inc. operates as the federally chartered holding company of The Bank of Greene County, a federally chartered savings bank. A majority of Greene County Bancorp, Inc.’s issued and outstanding common stock (56.1%) is held by Greene County Bancorp, MHC, a federally chartered mutual holding company. The remaining shares of Greene County Bancorp, Inc. are owned by public stockholders and The Bank of Greene County’s Employee Stock Ownership Plan. The Company is engaged in overseeing and directing the business of The Bank of Greene County and a range of Greene County Bancorp, Inc.’s investment securities. At June 30, 2009, Greene County Bancorp, Inc.’s assets consisted of its investment in The Bank of Greene County and cash and securities totaling $3.2 million.
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