GOUVERNEUR, N.Y., Aug. 11, 2016 /PRNewswire/ -- Charles C. Van Vleet, President and Chief Executive Officer of Gouverneur Bancorp, Inc. (OTC Pink: GOVB) ("Bancorp" or the "Company") and its subsidiary, Gouverneur Savings and Loan Association (the "Bank"), announced today that the Company's board of directors has declared a semi-annual dividend payment of $0.17 per share for all stockholders of record as of the close of business on September 15, 2016. This dividend will be paid on September 30, 2016.
Mr. Van Vleet commented, "It is with great pleasure that I announce our 34th consecutive semi-annual dividend paid by the Company. A key reason for Gouverneur Bancorp's success has been its ability to pay more than 17 years of competitive dividends. Cambray Mutual Holding Company, the parent company of Gouverneur Bancorp and majority shareholder of Bancorp stock, has received its third member and regulatory approval to waive its right to dividends, which increases the strength of the Bank."