Gouverneur Bancorp, Inc. Announces Semi-Annual Dividend

Jan 24, 2014, 12:18 ET from Gouverneur Bancorp, Inc.

GOUVERNEUR, N.Y., Jan. 24, 2014 /PRNewswire/ -- Charles C. Van Vleet, President and Chief Executive Officer of Gouverneur Bancorp, Inc. (OTCQB: 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 March 15, 2014.  This dividend will be paid on March 31, 2014.

Mr. Van Vleet commented, "A key reason for Gouverneur Bancorp's success has been its ability to pay a competitive dividend.  It is with great pleasure that I announce our 28th consecutive semi-annual dividend paid by the Company. Cambray Mutual Holding Company, the parent company of Gouverneur Bancorp and majority shareholder of Bancorp stock, has received member and regulatory approval to waive its right to dividends, which increases the strength of the Bank."

Founded in 1892, the Bank is a federally chartered savings and loan association offering a variety of banking products and services to individuals and businesses in its primary market area of St. Lawrence County and the Alexandria Bay area located in Jefferson County.

Note: This press release may contain certain statements, which are not historical facts or which concern the Bank's future operations or economic performance and which are considered forward-looking statements.  Any such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The Bank cautions that all forward-looking statements involve risks and uncertainties, and that actual results may differ materially from those indicated in the forward-looking statements as a result of various factors, such as changing economic and competitive conditions and other risks and uncertainties. In addition, statements in this news release regarding historical stock price performance are not indicative of or guarantees of future price performance.

SOURCE Gouverneur Bancorp, Inc.