HINGHAM INSTITUTION FOR SAVINGS (Nasdaq – HIFS), Hingham, Massachusetts announced that its Board of Directors declared its regular quarterly cash dividend of $0.24 per share. The dividend will be paid on January 20, 2011 to stockholders of record as of January 10, 2011.
In addition to the regular quarterly dividend, Hingham’s Board of Directors announced that it will pay a special dividend of $0.25 per share, which represents a 4.2% increase over the prior year’s special dividend. This special dividend will also be paid on January 20, 2011 to stockholders of record as of January 10, 2011.
Robert H. Gaughen, Jr., President and Chief Executive Officer of the Bank, stated, “The Bank continues to show exceptional results in earnings, return on equity, and balance sheet growth while maintaining strong asset quality. This positive performance has allowed our Board to approve the regular quarterly dividend along with an increased special dividend. This sixty-eighth consecutive quarterly dividend and the sixteenth consecutive annual special dividend demonstrate our commitment to a healthy dividend policy that reflects confidence in our ongoing success.”
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, Scituate, Norwell, 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.