Michael R. Kallet
, President and Chief Executive Officer of Oneida Financial Corp. (Nasdaq: ONFC), today announced that the Company has declared a quarterly cash dividend of
per share of the Company's common stock. The dividend is payable to stockholders of record as of
June 22, 2010
and will be paid on
July 7, 2010
Kallet stated, "Oneida Financial Corp. has consistently paid cash dividends to our stockholders since the Company's initial stock offering in 1998 on a semi-annual basis." Kallet continued, "In connection with the Company's Plan of Conversion and second step stock offering currently in process, the Company indicated our intention to begin paying cash dividends on a quarterly basis."
The Board of Trustees of Oneida Financial, MHC, the majority shareholder of the Company owning 55.0% of the outstanding common stock is waiving its receipt of this cash dividend payment.
Oneida Financial Corp. reported total assets at
March 31, 2010
and stockholders' equity of
. The Company's wholly owned subsidiaries include The Oneida Savings Bank, a
New York State
chartered FDIC insured stock savings bank; State Bank of
, a state chartered limited-purpose commercial bank; Bailey, Haskell & LaLonde Agency, an insurance and financial services company; Benefit Consulting Group, an employee benefits consulting and retirement plan administration firm; and Workplace Health Solutions, a risk management company specializing in workplace injury claims management. Oneida Savings Bank was established in 1866 and operates twelve full-service banking offices in
SOURCE Oneida Financial Corp.