(8)

Dividends

On July 21, 2015, the Board of Directors declared a cash dividend for the quarter ended June 30, 2015 of $0.185 per share on Greene County Bancorp, Inc.’s common stock. The dividend reflects an annual cash dividend rate of $0.74 per share, compared to an annual cash dividend rate of $0.72 declared during the previous quarter. The dividend was payable to stockholders of record as of August 14, 2015, and was paid on August 31, 2015. The MHC has waived its right to receive dividends declared on its shares of the Company’s common stock for the quarter ended June 30, 2015.