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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 24, 2004
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 $0.19 per share. The dividend will be paid on January 20, 2005 to stockholders of record as of January 10, 2005.
In addition to the regular quarterly dividend, Hingham's Board of Directors announced that it will pay a special dividend of $0.20 per share. This special dividend will also be paid on January 20, 2005 to stockholders of record as of January 10, 2005.
Robert H. Gaughen, Jr., President and Chief Executive Officer of the Bank, stated "In the last six years, regular and special dividends declared have increased each year, from a total of $0.58 per share in 1999 to $0.94 per share in 2004. This represents a cumulative increase of 62%. 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.
