Hingham Savings Declares Regular Dividend of $0.40 per Share
September 25 2019 - 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 $0.40
per share. This represents an increase of 3% over the
previous regular quarterly dividend of $0.39 per share. The
dividend will be paid on October 16, 2019 to stockholders of record
as of October 7, 2019.Robert H. Gaughen, Jr., Chairman and Chief
Executive Officer of the Bank, in announcing the dividend, stated,
“The Bank continues to produce 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
103rd consecutive quarterly dividend and we have consistently
increased regular quarterly cash dividends over the last
twenty-four years.”In addition to regular quarterly cash dividends,
the Bank has declared special cash dividends in each of the last
twenty-four years, typically in the fourth quarter. The Bank
sets the level of the special dividend based on the Bank’s capital
requirements and the return on available capital allocation
options. This may result in special dividends, if any,
significantly above or below the regular quarterly dividend.
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 maintains offices in Boston
(South End and Beacon Hill), across the South Shore, and in
Nantucket. The Bank also maintains an office in Washington, D.C.,
where it provides commercial mortgage lending and commercial cash
management services.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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