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PRESS RELEASE
FROM: amp;namp;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;namp;n June 26, 2003
CONTACT: William M. Donovan, Jr., Vice President (781) 749.2200
6% INCREASE IN DIVIDEND ANNOUNCED
HINGHAM INSTITUTION FOR SAVINGS (Nasdaq - HIFS), Hingham, Massachusetts, announced that its Board of Directors declared its regular quarterly cash dividend of $0.18 per share. The dividend will be paid on July 21, 2003 to stockholders of record as of July 10, 2003.
In announcing the increase in the regular quarterly dividend from $0.17 to $0.18, Robert H. Gaughen, Jr., President and Chief Executive Officer of the Bank, stated "This thirty-eighth consecutive quarterly dividend is indicative of our commitment to a dividend policy that recognizes the strength of our core earnings."
In addition to regular quarterly cash dividends, Hingham Institution for Savings has declared special cash dividends in each of the last eight 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.
