Hingham Declares Regular Dividend
September 29 2016 - 11:14AM
HINGHAM INSTITUTION FOR SAVINGS (NASDAQ:HIFS)
(“the Bank”), Hingham, Massachusetts announced that its Board of
Directors declared its regular quarterly cash dividend of $0.32 per
share. The dividend will be paid on October 19, 2016 to
stockholders of record as of October 10, 2016.
Robert H. Gaughen, Jr., President and CEO of the Bank, in
announcing the dividend, stated, “The Bank continues its record of
strong performance with solid balance sheet growth and strong
returns on equity capital. These returns are the product of
conservative underwriting, disciplined cost control, and careful
capital allocation. These returns have allowed us to consistently
increase regular quarterly cash dividends over the last 20
years. This is our 91st consecutive regular quarterly
dividend. It is part of our ongoing effort to allocate
capital in order to create value for our owners.”
In addition to regular quarterly cash dividends,
the Bank has declared special cash dividends in each of the last
twenty one 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
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: Patrick R. Gaughen, Executive Vice President (781) 783-1761
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