Hingham Savings Declares 3% Increase in Regular Quarterly Dividend
June 27 2018 - 5:23PM
HINGHAM INSTITUTION FOR SAVINGS (NASDAQ:HIFS)
(“the Bank”), Hingham, Massachusetts, announced that its Board of
Directors has declared a regular quarterly cash dividend of $0.35
per share. This represents an increase of 3% over the
previous regular quarterly dividend of $0.34 per share. The
dividend will be paid on July 18, 2018 to stockholders of record as
of July 9, 2018.
Robert H. Gaughen, Jr., Chairman and Chief
Executive Officer 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 both regular and special
dividends. This will be our 98th 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-three years, typically in the fourth quarter. 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 maintains offices on the South Shore, in Boston (South
End and Beacon Hill), and on the island of Nantucket. The
Bank is also an active commercial real estate lender in the Greater
Washington D.C. metropolitan area.
The Bank’s shares of common stock are listed and
traded on The Nasdaq Stock Market under the symbol HIFS.
CONTACT: Patrick R. Gaughen, President &
Chief Operating Officer (781) 783-1761
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