form8kapril212010.htm
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): April 21, 2010

GREENE COUNTY BANCORP, INC.
(Exact Name of Registrant as Specified in its Charter)
 
                                                     Federal                                             0-25165                           14-1809721                       
                                                    (State or Other Jurisdiction                                                (Commission File No.)                                  (I.R.S. Employer
                                                   of Incorporation)                                                                                                                                     Identification No.)


                                                                302 Main Street, Catskill NY                                                  12414            
                                                    (Address of Principal Executive Offices)                                                                              (Zip Code)


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):

[  ]  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

[  ]  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

[  ]  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17
      CFR 240.14d-2(b))

[  ]  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 
 
 



Item 8.01             Other Events

On April 21, 2010, the Board of Directors of Greene County Bancorp, Inc. approved a quarterly cash dividend of $0.175 per share.  A press release announcing the details of the declaration is filed as exhibit 99.1.

Greene County Bancorp, MHC, majority stockholder of the Greene County Bancorp, Inc. and owner of 2,304,632 shares of the 4,118,912 total shares outstanding, has waived the right to receive its portion of the dividend, based on action of its Board of Directors.  Accordingly, the dividend is expected to be paid only on the 1,814,280 shares owned by minority stockholders of Greene County Bancorp, Inc.

                Exhibit No.
Description

99                                           Press release dated April 21, 2010





 
 
 

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.

          GREENE COUNTY BANCORP, INC.


DATE:  April 27, 2010                                                                              By: /s/ Donald E. Gibson           
Donald E. Gibson
President and Chief Executive Officer

 
 
 

Exhibit 99.1

April 21, 2010
FOR IMMEDIATE RELEASE
Contact:  Donald E. Gibson, President & CEO
518.943.2600

GREENE COUNTY BANCORP, INC.
ANNOUNCES HIGHER CASH DIVIDEND

Catskill, NY – April 21, 2010.  Greene County Bancorp, Inc. (NASDAQ-GCBC) today announced that its Board of Directors has approved an increase in the Company’s quarterly cash dividend from $0.17 per share to $0.175 per share, an increase of 2.9%.  The dividend reflects an annual cash dividend rate of $0.70 per share.

The dividend will be paid to shareholders of record as of May 14, 2010, payable on June 2, 2010.

The Company is the majority-owned subsidiary of Greene County Bancorp, MHC, a federal mutual holding company, which owns 56.0 percent of the Company’s outstanding shares.  Greene County Bancorp, MHC waived its right to receive dividends on its shares of the Company.

Greene County Bancorp, Inc. is the direct and indirect holding company, respectively, for The Bank of Greene County, a federally-chartered thrift, and Greene County Commercial Bank, a New York-chartered commercial bank, both headquartered in Catskill, New York.  The Banks serve Greene, Columbia and Albany Counties in New York from eleven full-service branch locations.

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