(8)

Dividends

On January 17, 2017, the Board of Directors declared a cash dividend for the quarter ended December 31, 2016 of $0.095 per share on Greene County Bancorp, Inc.’s common stock. The dividend reflects an annual cash dividend rate of $0.38 per share, which was the same rate as the dividend declared during the previous quarter. The dividend was payable to stockholders of record as of February 15, 2017, and was paid on February 28, 2017. The MHC waived its receipt of this dividends declared on its shares of the Company’s common stock for the quarter ended December 31, 2016.