PRESS RELEASE
FROM: Robert H. Gaughen, Jr.,
President
Hingham Institution
for Savings
Hingham, MA
(NASDAQ-HIFS)
DATE: September 25, 2008
CONTACT: William M. Donovan, Jr., Vice President 781.749.2200
5% 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 $0.21 per share. The dividend will be paid on October 20, 2008 to stockholders of record as of October 10, 2008.
Robert H. Gaughen, Jr., President and Chief Executive Officer of the Bank, in announcing the dividend, stated, “This 59th consecutive quarterly dividend represents a 5% increase over the prior quarter’s dividend. In this period of financial turmoil, we are proud of the fact that we have increased our dividends declared to stockholders in each of the last 14 years. We remain committed to the conservative strategies and practices that have made this possible.”
In addition to regular quarterly cash dividends, Hingham Institution for Savings has declared special cash dividends in each of the last thirteen 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, Weymouth, as well as the South End of Boston and a recently opened branch in Norwell.
The Bank’s shares of common stock are listed and traded on The Nasdaq Stock Market under the symbol HIFS.
