Hingham Declares Regular and Special Dividend
November 25 2015 - 9:28AM
HINGHAM INSTITUTION FOR SAVINGS (NASDAQ:HIFS),
Hingham, Massachusetts announced that its Board of Directors
declared its regular quarterly cash dividend of $0.30 per
share. The dividend will be paid on January 20, 2016 to
stockholders of record as of January 8, 2016.
In addition to the regular quarterly
dividend, the Bank's Board of Directors announced that it will pay
a special dividend of $0.30 per share. This special dividend
will also be paid on January 20, 2016 to stockholders of record as
of January 8, 2016.
Robert H. Gaughen, Jr., President and Chief
Executive Officer of the Bank, stated, “The Bank continues to
produce strong returns on equity in 2015. This performance is
the product of conservative underwriting, disciplined cost
controls, and careful capital allocation. Although we are a
publicly traded company in form, we are a partnership in
spirit. Our special dividend reflects our belief that all
partners should share in this performance through both capital
appreciation and cash dividends. We remain committed to a
dividend policy that returns capital to the ownership while
reinvesting in profitable organic growth.”
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
continuously operating banks in the United States. The Bank’s main
offices are located on Main Street in Hingham, MA. The Bank
also maintains branch offices in South Hingham and the neighboring
towns of Cohasset, Hull, Scituate, Norwell and Weymouth as well as
branches in the South End of Boston, Beacon Hill and on the island
of Nantucket.
The Bank’s shares of common stock are listed and
traded on The Nasdaq Stock Market under the symbol HIFS.
CONTACT: Robert A. Bogart, Vice President & Treasurer (781) 749-2200
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