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2002 Fourth Quarter Special Dividend and Quarterly Dividend Declared
FROM:amp;n Robert H. Gaughen, Jr., President
amp;namp;namp;namp;n Hingham Institution
for Savings
amp;namp;namp;namp;n Hingham, MA
(NASDAQ-HIFS)
DATE: amp;n November 21, 2002
CONTACT: William M. Donovan, Jr., Vice President (781) 749.2200
PRESS RELEASE
SPECIAL DIVIDEND & QUARTERLY DIVIDEND DECLARED
HINGHAM INSTITUTION FOR SAVINGS (Nasdaq B HIFS), Hingham, Massachusetts, announced that its Board of Directors declared its regular quarterly cash dividend of $0.17 per share. The dividend will be paid on January 21, 2003 to stockholders of record as of January 10, 2003.
In addition to the regular quarterly dividend, Hingham's Board of Directors announced that it will pay a special dividend of $0.18 per share. This special dividend will also be paid on January 21, 2003 to stockholders of record as of January 10, 2003.
Robert H. Gaughen, Jr., President and Chief Executive Officer of the Bank, stated "In the last four years, regular and special dividends declared have increased from $0.58 per share in 1999 to $0.84 per share in 2002. Our Board continues to believe that stockholders should participate in our continued success through a healthy dividend policy."
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.
