HINGHAM INSTITUTION FOR SAVINGS (Nasdaq – HIFS), Hingham, Massachusetts announced that its Board of Directors declared a regular quarterly cash dividend of $0.26 per share. The dividend will be paid on July 20, 2012 to stockholders of record as of July 10, 2012. This represents a 4.0% increase over the previous quarterly dividend.
Robert H. Gaughen, Jr., President and Chief Executive Officer of the Bank, in announcing the dividend, stated, “Continued organic growth in our balance sheet combined with outstanding cost control has produced some of the strongest and most consistent earnings in our industry. These results have allowed us to increase cash dividends declared in each of the last 18 years. This dividend, our 74 th consecutive quarterly dividend, is a continuation of our tradition of remaining acutely aware of our obligation to our shareholders.”
In addition to regular quarterly cash dividends, Hingham Institution for Savings has declared special cash dividends in each of the last seventeen 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 branches in the South End of Boston and on Beacon Hill.The Bank’s shares of common stock are listed and traded on The Nasdaq Stock Market under the symbol HIFS.