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Greene County Bancorp Inc. declares dividend; parent waiving right to payout

Catskill, N.Y.-basedGreene County Bancorp Inc. (MHC)will be paying out a quarterly cash dividend of 9.5 cents per share on or aboutAug. 31 to shareholders of record as of Aug. 15.

As per SNL data,the company's last dividend payout was 9.25 cents per share.

The company'sparent, Greene County Bancorp MHC— which owns a 54.4% stake, or 4,609,264 outstanding common shares — is waivingits right to receive the dividend on its shares. The parent company has also securedapproval from its members and the nonobjection of the Federal Reserve Bank of Philadelphiato waive its right to receive the dividend.

The dividendis expected to be paid only on the 3,866,350 common shares owned by the company'sminority stockholders.