2000 First Quarter - Cash Dividend Announced
PRESS RELEASE
| FROM: |
Robert H. Gaughen, Jr., President Hingham Institution for Savings Hingham, MA (NASDAQ - HIFS) |
| DATE: | March 23, 2000 |
| CONTACT: | William M. Donovan, Jr., Vice President (781) 749-2200 |
8% INCREASE IN DIVIDEND ANNOUNCED
HINGHAM INSTITUTION FOR SAVINGS (Nasdaq - HIFS), Hingham, Massachusetts, announced that its Board of Directors declared a quarterly cash dividend of $0.13 per share. The dividend will be paid on April 20, 2000 to stockholders of record as of April 10, 2000.
In announcing the dividend, Robert H. Gaughen, Jr., President and Chief Executive Officer of the Bank, stated "The increase from $0.12 to $0.13 per share represents the seventh increase in our quarterly dividend in the past three years. We have great confidence in the Bank's core earnings capacity. Our earnings ratios continue to compare very favorably with those of our peers, and we want our shareholders to see a direct benefit."
In addition to regular quarterly cash dividends, Hingham Institution for Savings has declared special cash dividends in each of the last five 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 Massachusetts. 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 Hull, Cohasset, Scituate, and South Weymouth.
The Bank's shares of common stock are listed and traded on The Nasdaq Stock Market under the symbol HIFS.
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