I am pleased to announce that, on August 18, 2022, our Board of Directors approved a dividend for the second quarter of 2022 of 5.50% (annualized). The dollar amount of the dividend will be approximately $64.6 million. The cash dividend will be distributed on August 19, 2022.
Through the first half of 2022, we have seen advances levels steadily increase both at the FHLBNY and across the Federal Home Loan Bank System as our members look to their reliable liquidity partner amid an ever-changing operating environment. Our reliability is reflected not only in the uninterrupted availability of our funding, but our continued ability to provide a consistent and reasonable return on the capital our members have invested in our cooperative.
The health and economic crises resulting from COVID-19 continue to be unpredictable and may affect the environment in which the FHLBNY operates. Changes to market and business conditions may negatively impact the FHLBNY’s financial performance and level of dividends. The FHLBNY will continue to assess the potential effects of changes in the environment on its financial performance and dividend strategy.
We filed our Form 10-Q for the second quarter of 2022 with the U.S. Securities and Exchange Commission on August 11, 2022.
Sincerely,
José R. González
President and Chief Executive Officer