Report From The President
______________________________________________________________________________________________________________________________________________________________________________________________
Report From The President
|
DATE:
|
February
13, 2019
|
DECLARES A 6.90% DIVIDEND FOR THE FOURTH QUARTER OF
2018
I am
pleased to announce that, on February 13, 2019, our Board of
Directors approved a dividend for the fourth quarter of 2018 of
6.90 percent (annualized). The dollar amount of the dividend will
be approximately $101.3 million. The cash dividend will be
distributed on February 14, 2019.
We
achieved very strong results during 2018, with record core earnings
and solid advance demand throughout the year. This consistently
strong performance is reflected in our quarterly dividend payments,
which total $417.6 million paid from 2018 income – a
full-year dividend rate of 6.76 percent. We remain focused on
serving as a stable and reliable partner for our members, and we
are proud to have provided our members with a strong return on
their investment in our cooperative in 2018.
We will
publish our 2018 audited financial results in our Form 10-K filing
with the Securities and Exchange Commission, which is expected to
be filed on or about March 21, 2019.
Sincerely,
Xxxx
X. Xxxxxxxx
President
and CEO
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Safe Harbor Statement Under the Private Securities Litigation
Reform Act of 1995
This
report may contain forward-looking statements within the meaning of
the "safe harbor" provisions of the Private Securities Litigation
Reform Act of 1995. These statements are based upon our current
expectations and speak only as of the date hereof. These statements
may use forward-looking terms, such as "projected," "expects,"
"may," or their negatives or other variations on these terms. The
Bank cautions that, by their nature, forward-looking statements
involve risk or uncertainty and that actual results could differ
materially from those expressed or implied in these forward-looking
statements or could affect the extent to which a particular
objective, projection, estimate, or prediction is realized. These
forward-looking statements involve risks and uncertainties
including, but not limited to, regulatory and accounting rule
adjustments or requirements, changes in interest rates, changes in
projected business volumes, changes in prepayment speeds on
mortgage assets, the cost of our funding, changes in our membership
profile, the withdrawal of one or more large members, competitive
pressures, shifts in demand for our products, and general economic
conditions. We undertake no obligation to revise or update publicly
any forward-looking statements for any reason.
FEDERAL
HOME LOAN BANK OF NEW YORK ● 000 XXXX XXXXXX ● NEW YORK, NY 10178 ● T: 212.681.6000 ● XXX.XXXXXX.XXX
