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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 27, 2006
CONTACT: William M. Donovan, Jr., Vice President 781.749.2200
PRESS RELEASE
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 $0.20 per share. The dividend will be paid on January 22, 2007 to stockholders of record as of January 10, 2007.
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 22, 2007 to stockholders of record as of January 10, 2007.
Robert H. Gaughen, Jr., President and Chief Executive Officer of the Bank, stated, “Despite the continued impact of significant pressure on our net interest margin, we remain committed to maintaining a strong dividend policy. This fifty-second consecutive quarterly dividend and the twelfth consecutive annual special dividend communicates our continued confidence in our basic strategies.
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, Weymouth and a recently opened branch in the South End of Boston.
The Bank’s shares of common stock are listed and traded on The Nasdaq Stock Market under the symbol HIFS.
