Hudson City Bancorp, Inc. (HCBK), the holding company for Hudson City Savings Bank, reported fourth-quarter net income of $47.9 million, or $0.10 per share, as compared with a $360.5 million, or $0.73 per share loss in 2011. The prior year's net loss was due to the extinguishment of $4.3 billion of borrowings, which led to an after-tax charge of $416.8 million, the company added.
On average, 13 analysts polled by Thomson Reuters expected earnings per share of $0.12 for the quarter. Analysts' estimates typically exclude one-time items.
Total interest and dividend income in the quarter fell to $388.16 million, from last year's $472.84 million.
Additionally, the board has declared a quarterly cash dividend of $0.08 per share, payable on February 28, 2013 to shareholders of record on February 11, 2013.
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