November 27, 2009 (FinancialWire) Oritani Financial Corp. (NASDAQ: ORIT) (the company or Oritani), the holding company for Oritani Bank, announced that the board of directors of the company has approved a 50% increase in the rate of Oritanis quarterly cash dividend.
The announcement was made at the companys annual meeting of shareholders. The quarterly dividend amount increased from $0.05 per share to $0.075 per share of the companys common stock. In conjunction with the announcement, the company also announced the declaration of a dividend at the new rate. The dividend will be payable to stockholders of record as of December 7, 2009 and will be paid on December 21, 2009.
The company is the majority-owned subsidiary of Oritani Financial Corp., MHC, a federal mutual holding company, which owns 74% percent of the companys outstanding shares.
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