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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 September 28, 2006
CONTACT: William M. Donovan, Jr., Vice President 781.749.2200
QUARTERLY DIVIDEND ANNOUNCED
HINGHAM INSTITUTION FOR SAVINGS (Nasdaq – HIFS), Hingham, Massachusetts announced that its Board of Directors declared its regular quarterly cash dividend of $0.20 per share. The dividend will be paid on October 20, 2006 to stockholders of record as of October 10, 2006. This represents the Bank’s 51st consecutive quarterly dividend.
Robert H. Gaughen, Jr., President and Chief Executive Officer of the Bank, in announcing the dividend, stated “The current softening in short-term interest rates is encouraging. Despite significant pressure on current earnings, we intend to maintain a strong dividend policy.”
In addition to regular quarterly cash dividends, Hingham Institution for Savings has declared special cash dividends in each of the last twelve 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 the Commonwealth. 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 Weymouth.
The Bank’s shares of common stock are listed and traded on The Nasdaq Stock Market under the symbol HIFS.
