HINGHAM, Mass., Sept. 29, 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 $0.32 per share. The dividend will be paid on October 19, 2016 to stockholders of record as of October 10, 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 returns on equity capital. These returns are the product of conservative underwriting, disciplined cost control, and careful capital allocation. These returns have allowed us to consistently increase regular quarterly cash dividends over the last 20 years. This is our 91st consecutive regular quarterly dividend. It is part of our ongoing effort to allocate capital in order to create value for our owners.”
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: Patrick R. Gaughen, Executive Vice President (781) 783-1761
Source:Hingham Institution for Savings