Hingham Declares Regular and Special Dividend
November 23 2016 - 9:29AM
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 January 18, 2017 to
stockholders of record as of January 6, 2017.
In addition to the regular quarterly
dividend, the Bank's Board of Directors announced that it will pay
a special dividend of $0.32 per share. This special dividend
will also be paid on January 18, 2017 to
stockholders of record as of January 6, 2017.
Robert H. Gaughen, Jr., Chairman 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. The Bank regularly considers all
capital allocation options and continues to return capital to the
ownership through regular and special dividends. This will be
our 92nd consecutive quarterly dividend and we have consistently
increased regular quarterly cash dividends over the last twenty
years.”
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
Office is located in Hingham and the Bank also maintains offices on
the South Shore, in Boston (South End and 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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