Gouverneur Bancorp, Inc. Announces Semi-Annual Dividend

GOUVERNEUR, N.Y., March 5  /PRNewswire-FirstCall/ -- Richard F. Bennett, President and Chief Executive Officer of Gouverneur Bancorp, Inc. (OTC Bulletin Board: GOVB) (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 March 15, 2009. The dividend will be payable on March 31, 2009.

Mr. Bennett commented that, "We are pleased to announce our 19th consecutive semi-annual dividend and the dividend represents a 6.25% increase over the amount paid on September 30, 2008." He further commented, "In spite of these unprecedented economic conditions the bank is able to increase this dividend while also increasing our capital to maintain our strong financial position"

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 in Jefferson County.

Note: This press release may contain certain statements, which are not historical facts or which concern the banks future operations of 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 a guarantee of future price performance. 

DATASOURCE: Gouverneur Bancorp, Inc.



CONTACT:  Robert J. Twyman, Vice President and Chief Financial Officer,

Gouverneur Bancorp, Inc., [phone]

Copyright