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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 November 20, 2003
CONTACT: William M. Donovan, Jr., Vice President (781) 749.2200
SPECIAL DIVIDEND & QUARTERLY DIVIDEND DECLARED
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 January 21, 2004 to stockholders of record as of January 9, 2004.
In addition to the regular quarterly dividend, Hingham's Board of Directors announced that it will pay a special dividend of $0.19 per share. This special dividend will also be paid on January 21, 2004 to stockholders of record as of January 9, 2004.
Robert H. Gaughen, Jr., President and Chief Executive Officer of the Bank, stated "In the last five years, regular and special dividends declared have increased from $0.58 per share in 1999 to $0.90 per share in 2004 representing a 55% increase. We continue to believe that stockholders should participate in our ongoing success through an ample 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.
