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2002 Third Quarter Cash Dividend Robert
H. Gaughen, Jr., President
HINGHAM INSTITUTION FOR SAVINGS (Nasdaq - HIFS), Hingham, Massachusetts, announced that its Board of Directors declared a quarterly cash dividend of $0.17 per share. The dividend will be paid on October 21, 2002 to stockholders of record as of October 10, 2002. In announcing the increase in the regular quarterly dividend from $0.16 to $0.17, 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, the second quarter earnings for this year increased by 21% over those of the same quarter last year. In addition to regular quarterly cash dividends, Hingham Institution for Savings has declared special cash dividends in each of the last seven 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 Cohasset, Hull, 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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