HINGHAM, Mass., June 23, 2016 (GLOBE NEWSWIRE) -- HINGHAM INSTITUTION FOR SAVINGS (NASDAQ:HIFS) (“the Bank”), Hingham, Massachusetts announced that its Board of Directors declared its regular quarterly cash dividend of $0.30 per share. The dividend will be paid on July 20, 2016 to stockholders of record as of July 11, 2016.
Robert H. Gaughen, Jr., President 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 earnings. These earnings are the product of conservative underwriting, disciplined cost control, and careful capital allocation. These results have allowed us to consistently increase regular quarterly cash dividends over the last 20 years. This is our 90th consecutive regular quarterly dividend. We believe in a capital policy that maintains a strong capital base, provides cash dividend returns for our owners, and invests in continued organic growth.”
In addition to regular quarterly cash dividends, the Bank has declared special cash dividends in each of the last twenty one years. Future 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 the oldest financial institution headquartered in Hingham and one of the oldest continuously operating banks in the United States. The Bank’s main offices are located on Main Street in Hingham, MA. The Bank also maintains branch offices in South Hingham and the neighboring towns of Cohasset, Hull, Scituate, Norwell and Weymouth as well as branches in the South End of Boston, 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: Robert A. Bogart, Vice President & Treasurer (781) 783-1744
Source:Hingham Institution for Savings