Oritani-Federal also announced that it has declared a quarterly cash dividend of $0.075 per share on the Company's common stock. The dividend will be payable to stockholders of record as of May 24, 2010 and will be paid on June 7, 2010. Oritani Financial Corp., MHC intends to waive the receipt of dividends paid on its shares of Oritani-Federal. Oritani Financial Corp., MHC, previously received a regulatory non-objection to the waiver of such dividends.Forward Looking Statements -- This release may contain certain "forward looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, and may be identified by the use of such words as "believe," "expect," "anticipate," "should," "planned," "estimated," and "potential." Examples of forward looking statements include, but are not limited to, estimates with respect to the financial condition, results of operations and business of Oritani-Delaware, Oritani-Federal and Oritani Bank that are subject to various factors which could cause actual results to differ materially from these estimates. These factors include, but are not limited to, general economic and market conditions, legislative and regulatory conditions, changes in interest rates that affect Oritani Bank's interest rate spread, changes in deposit flows, loan demand or real estate values and other economic, governmental, competitive, regulatory and technological factors that may affect Oritani-Delaware, Oritani-Federal and Oritani Bank's operations.
CONTACT: Oritani Financial Corp. Kevin J. Lynch, President and Chief Executive Officer (201) 664-5400