HINGHAM INSTITUTION FOR SAVINGS (Nasdaq – HIFS), Hingham, Massachusetts announced that its Board of Directors declared its regular quarterly cash dividend of $0.25 per share. The dividend will be paid on January 20, 2012 to stockholders of record as of January 10, 2012.
In addition to the regular quarterly dividend, Hingham’s Board of Directors announced that it will pay a special dividend of $0.26 per share, which represents a 4.0% increase over the prior year’s special dividend. This special dividend will also be paid on January 20, 2012 to stockholders of record as of January 10, 2012.
Robert H. Gaughen, Jr., President and Chief Executive Officer of the Bank, stated, “The Bank continues to achieve exceptional results with an impressive return on equity, and significant 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 is the seventeenth consecutive year in which we have increased total cash dividends declared per share. We remain committed to a dividend policy that appropriately rewards our shareholders and maintains a strong capital base.”
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. In October, the Bank opened its’ 10 th branch in the Beacon Hill/Back Bay area of Boston.The Bank’s shares of common stock are listed and traded on The Nasdaq Stock Market under the symbol HIFS.