Oritani Financial Corp. Announces $0.50 Special Dividend

TOWNSHIP OF WASHINGTON, N.J., Nov. 22, 2016 (GLOBE NEWSWIRE) -- Oritani Financial Corp. (the "Company" or "Oritani") (NASDAQ:ORIT), the holding company for Oritani Bank (the "Bank") announced that its Board of Directors has declared a special cash dividend of $0.50 per share on the Company's common stock.  The record date for the dividend will be December 9, 2016 and the payment date will be December 23, 2016. 

"Oritani continues to desire to share its considerable earnings with our stockholders," said Kevin J. Lynch, the Company's Chairman, President and CEO.  "The amount of this special dividend is based primarily on the difference between our earnings and regular dividends for the twelve month period ended September 30, 2016."  Mr. Lynch continued, "While Oritani has reinvested a portion of its income into balance sheet restructures that will benefit future periods, we still generated sufficient earnings to reward our stockholders with this special dividend."

About the Company

Oritani Financial Corp. is the holding company for Oritani Bank, a New Jersey state chartered bank offering a full range of retail and commercial loan and deposit products.  Oritani Bank is dedicated to providing exceptional personal service to its individual and business customers.  The Bank currently operates 26 full service branches in the New Jersey Counties of Bergen, Hudson, Essex and Passaic.  For additional information about Oritani Bank, please visit www.oritani.com.

Forward Looking Statements

Certain statements contained herein are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934.  Such forward-looking statements may be identified by reference to a future period or periods, or by the use of forward-looking terminology, such as  "may,"  "intend," "will,"  "believe,"  "expect," "estimate,"  "anticipate,"  "continue," or similar terms or variations on those terms, or the negative of those terms. Forward-looking statements are subject to numerous risks and uncertainties, including, but not limited to, possible regulatory restraints on the future payment of dividends and those related to the economic environment, particularly in the market areas in which the Company operates, competitive products and pricing, fiscal and monetary policies of the U.S. Government, changes in government regulations affecting financial institutions, including regulatory fees and capital requirements, changes in prevailing interest rates, acquisitions and the integration of acquired businesses, credit risk management, asset-liability management, the financial and securities markets and the availability of and costs associated with sources of liquidity.

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