Greene County Bancorp, Inc. Announces Cash Dividend Increase

About this update from Greene County Bancorp, Inc.

CATSKILL, N.Y. , July 20, 2022 (GLOBE NEWSWIRE) -- Greene County Bancorp, Inc. (NASDAQ-GCBC) today announced that its Board of Directors has approved a quarterly cash dividend of $0.14 per share on the Company’s common stock. The dividend reflects an annual cash dividend rate of $0.56 per share, which represents a 7.7% increase from the previous annual cash dividend rate of $0.52 per share. The cash dividend for the quarter ended June 30, 2022 will be paid to shareholders of record as of August 15, 2022 , and is expected to be paid on August 31, 2022 . 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 approval of its members (depositors of The Bank of Greene County ) and the non-objection of the Federal Reserve Bank of Philadelphia to waive the MHC’s receipt of quarterly cash dividends aggregating up to $0.60 per share, paid by the Company for the four quarters ending with the quarters that end on June 30, 2022 , September 30, 2022 , December 31, 2022 and March 31, 2023 . 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 . For Further Information Contact: Donald E. Gibson President and Chief Executive Officer(518) 943-2600 [email protected] Source: Greene County Bancorp, Inc.

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