HINGHAM INSTITUTION FOR SAVINGS (Nasdaq – HIFS), Hingham, Massachusetts announced that its Board of Directors declared a regular quarterly cash dividend of $0.23 per share. The dividend will be paid on April 20, 2010 to stockholders of record as of April 9, 2010.
Robert H. Gaughen, Jr., President and Chief Executive Officer of the Bank, in announcing the dividend, stated, “Our Bank continued its record of maintaining solid capital ratios and sound asset quality while achieving strong growth in the balance sheet and a 28% increase in our bottom line for the fiscal year ended December 31, 2009. This 65 th consecutive quarterly dividend represents a 4.5% increase over the prior quarter’s dividend which reflects our Board’s commitment to a healthy dividend policy that reflects confidence in our ongoing success. We are proud of the fact that we have increased cash dividends to shareholders in each of the past 15 years.”
In addition to regular quarterly cash dividends, Hingham Institution for Savings has declared special cash dividends in each of the last fifteen 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 in the Commonwealth. The Bank’s main offices are located on Main Street, Hingham, Massachusetts 02043, phone (781) 749-2200. The Bank also maintains branch offices in South Hingham and the neighboring towns of Cohasset, Hull, Norwell, Scituate, and Weymouth, as well as the South End of Boston.The Bank’s shares of common stock are listed and traded on The Nasdaq Stock Market under the symbol HIFS.