Hingham Institution for Savings: 4.0% Increase in Dividend Announced
June 28 2012 - 9:43AM
Business Wire
HINGHAM INSTITUTION FOR SAVINGS (Nasdaq – HIFS), Hingham,
Massachusetts announced that its Board of Directors declared a
regular quarterly cash dividend of $0.26 per share. The dividend
will be paid on July 20, 2012 to stockholders of record as of July
10, 2012. This represents a 4.0% increase over the previous
quarterly dividend.
Robert H. Gaughen, Jr., President and Chief Executive Officer of
the Bank, in announcing the dividend, stated, “Continued organic
growth in our balance sheet combined with outstanding cost control
has produced some of the strongest and most consistent earnings in
our industry. These results have allowed us to increase cash
dividends declared in each of the last 18 years. This dividend, our
74th consecutive quarterly dividend, is a continuation of our
tradition of remaining acutely aware of our obligation to our
shareholders.”
In addition to regular quarterly cash dividends, Hingham
Institution for Savings has declared special cash dividends in each
of the last seventeen years. Future dividends will be considered by
the Board of Directors on a quarterly basis.
Hingham Institution for Savings is a Massachusetts-chartered
savings bank located in Hingham, Massachusetts. Incorporated in
1834, it is the oldest financial institution headquartered in
Hingham and one of the oldest in the Commonwealth. The Bank’s main
offices are located on Main Street, Hingham, Massachusetts 02043,
phone (781) 749-2200. The Bank also maintains branch offices in
South Hingham and the neighboring towns of Cohasset, Hull, Norwell,
Scituate, and Weymouth, as well as branches in the South End of
Boston and on Beacon Hill.
The Bank’s shares of common stock are listed and traded on The
Nasdaq Stock Market under the symbol HIFS.
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