PRESS RELEASE
FROM: Robert H. Gaughen, Jr.,
President
Hingham Institution
for Savings
Hingham, MA
(NASDAQ-HIFS)
DATE: March 26 , 2009
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 $0.21 per share. The dividend will be paid on April 21, 2009 to stockholders of record as of April 10, 2009.
Robert H. Gaughen, Jr., President and Chief Executive Officer of the Bank, in announcing the dividend, stated, “During this period of almost unparalleled turmoil in the financial sector, our Bank continued its record of maintaining solid capital ratios and sound asset quality while achieving strong growth in the balance sheet and a very significant increase in our bottom line for the fiscal year ended December 31, 2008. This 61st consecutive quarterly dividend reflects our Board’s commitment to a healthy dividend policy that reflects confidence in our ongoing success.”
In addition to regular quarterly cash dividends, Hingham Institution for Savings has declared special cash dividends in each of the last fourteen 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.
