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2001 Second Quarter - Cash Dividend Announced
PRESS RELEASE
| FROM: |
Robert
H. Gaughen, Jr., President Hingham Institution for Savings Hingham, MA (NASDAQ - HIFS) |
| DATE: | June 28, 2001 |
| CONTACT: | William M. Donovan, Jr., Vice President (781) 749-2200 |
QUARTERLY 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 July 20, 2001 to stockholders of record as of July 10, 2001.
In announcing the dividend, Robert H. Gaughen, Jr., President and Chief Executive Officer of the Bank, stated, "We remain committed to a dividend policy that recognizes our strong earnings momentum. As previously announced, first quarter earnings increased by 26% over those of the same quarter in 2000. "Our earnings trend continues to be driven by our ability to expand our balance sheet. There continues to be extraordinary growth opportunity in our market. This thirtieth consecutive regular quarterly dividend reflects our continued confidence in our basic strategies."
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.
