PRESS RELEASE
| FROM: | Robert H. Gaughen, Jr., President |
| Hingham Institution for Savings | |
| Hingham, MA (NASDAQ-HIFS) | |
| DATE: | September 24 , 2009 |
| CONTACT: | William M. Donovan, Jr., Vice President (781) 749.2200 |
4.8% 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 $0.22 per share. The dividend will be paid on October 20, 2009 to stockholders of record as of October 9, 2009.
Robert H. Gaughen, Jr., President and Chief Executive Officer of the Bank, in announcing the dividend, stated, “This 63rd consecutive quarterly dividend represents a 4.8% increase over the prior quarter’s dividend. We are proud of the fact that, based upon our positive financial results, our Board of Directors have been able to increase our dividends declared to stockholders in each of the last 14 years. We remain focused on the conservative strategies and practices that have produced record results this year. We continue to believe in a dividend policy that provides stockholders with tangible participation in this 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, Norwell, Weymouth, as well as 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.
Copyright 2007 Hingham Institution for Savings. All rights reserved. Member FDIC/Member DIF All funds in a "noninterest-bearing transaction account" are insured in full by the Federal Deposit Insurance Corporation from December 31, 2010, through December 31, 2012. This temporary unlimited coverage is in addition to, and separate from, the coverage of at least $250,000 available to depositors under the FDIC's general deposit insurance rules. The term "noninterest-bearing transaction account" includes a traditional checking account or demand deposit account on which the insured depository institution pays no interest. It does not include other accounts, such as traditional checking or demand deposit accounts that may earn interest, NOW accounts, moneymarket deposit accounts, and Interest on Lawyers Trust Accounts ("IOLTAs"). For more information about temporary FDIC insurance coverage of transaction accounts, visit www.fdic.gov. All deposit amounts above the FDIC limits are insured in full by the Depositors Insurance Fund.
