Hingham Declares 6.25% Increase in Regular Quarterly Dividend
September 27 2017 - 4:01PM
HINGHAM INSTITUTION FOR SAVINGS (NASDAQ:HIFS)
(“the Bank”), Hingham, Massachusetts, announced that its Board of
Directors has declared a regular quarterly cash dividend of $0.34
per share. This represents an increase of 6.25% over the
previous regular quarterly dividend of $0.32 per share. The
dividend will be paid on October 18, 2017 to stockholders of record
as of October 9, 2017.
Robert H. Gaughen, Jr., Chairman and CEO of the
Bank, in announcing the dividend, stated, “The Bank continues its
record of 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 95th
consecutive quarterly dividend and we have consistently increased
regular quarterly cash dividends over the last twenty years.”
In addition to regular quarterly cash dividends,
the Bank has declared special cash dividends in each of the last
twenty-two years. Future regular and special 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 one of America’s
oldest banks. 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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