Hingham Savings Declares 3% Increase in Regular Quarterly Dividend
HINGHAM, Mass., June 27, 2018 (GLOBE NEWSWIRE) — 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