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1999 Second Quarter - Cash Dividend Announced
| FROM: |
Robert H. Gaughen, Jr., President Hingham Institution for Savings Hingham, MA (NASDAQ - HIFS) |
| DATE: | June 24, 1999 |
| CONTACT: | William M. Donovan, Jr., Vice President (781) 749-2200 |
PRESS RELEASE
QUARTERLY DIVIDEND ANNOUNCED
HINGHAM INSTITUTION FOR SAVINGS (Nasdaq - HIFS), Hingham, Massachusetts, announced that its Board of Directors declared a quarterly cash dividend of $0.11 per share. The dividend will be paid on July 22, 1999 to stockholders of record as of July 12, 1999.
In announcing the dividend, Robert H. Gaughen, Jr., President and Chief Executive Officer of the Bank, stated "We are extremely pleased that, as previously announced, results for the first quarter of 1999 included an increase in net income over that of the same quarter in 1998 together with significant increases in loans, deposits, and stockholders' equity. These positive results, combined with the strength of our capital position, allowed the Board to adopt this dividend.
In addition to regular quarterly cash dividends, Hingham Institution for Savings has declared special cash dividends for the last four 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 Massachusetts. 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 Hull, Cohasset, Scituate, and South Weymouth.
The Bank's shares of common stock are listed and traded on The Nasdaq Stock Market under the symbol HIFS.
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