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Dividends
6 Months Ended
Dec. 31, 2012
Dividends [Abstract]  
Dividends

(8)                 Dividends

 

On October 16, 2012, the Board of Directors declared a quarterly cash dividend of $0.175 per share of Greene County Bancorp, Inc.'s common stock. The dividend, which reflected an annual cash dividend rate of $0.70 cents per share, was unchanged from the dividend declared during the previous quarter. The dividend was payable to stockholders of record as of November 15, 2012, and was paid on November 30, 2012. Historically, Greene County Bancorp, MHC has waived its right to receive dividends declared on its shares of the Company's common stock, and Greene County Bancorp, MHC had waived the receipt of dividends for the October 16, 2012 dividend, subject to the non-objection of the Federal Reserve Board. The Federal Reserve Board has adopted interim final regulations that impose significant conditions and restrictions on the ability of mutual holding companies to waive the receipt of dividends from their subsidiaries, and Greene County Bancorp, MHC did not obtain the non-objection of the Federal Reserve to waive the receipt of its dividend on the Company's common stock for the October 16, 2012 dividend. Accordingly, such dividend was paid to Greene County Bancorp, MHC on November 30, 2012. Greene County Bancorp, MHC's ability to waive dividends in future periods cannot be reasonably determined at this time.