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2001 First Quarter - Cash Dividend Announced
PRESS RELEASE
| FROM: |
Robert
H. Gaughen, Jr., President Hingham Institution for Savings Hingham, MA (NASDAQ - HIFS) |
| DATE: | March 29, 2001 |
| CONTACT: | William M. Donovan, Jr., Vice President (781) 749-2200 |
7% INCREASE IN DIVIDEND ANNOUNCED
HINGHAM INSTITUTION FOR SAVINGS (Nasdaq - HIFS), Hingham, Massachusetts, announced that its Board of Directors declared a quarterly cash dividend of $0.15 per share. The dividend will be paid on April 20, 2001 to stockholders of record as of April 10, 2001.
In announcing the dividend from $0.14 to $0.15 per share, Robert H. Gaughen, Jr., President and Chief Executive Officer of the Bank, stated, "This represents the seventh increase in our quarterly dividend in the past three years and is the twenty-ninth consecutive regular quarterly dividend. As previously announced, fourth quarter earnings increased by 32% over those of the same quarter in 1999. These positive results, combined with the continued strength of our capital position, allowed the Board to adopt this dividend."
In addition to regular quarterly cash dividends, Hingham Institution for Savings has declared special cash dividends in each of the last six 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.
