HINGHAM, Mass., June 25, 2015 (GLOBE NEWSWIRE) -- HINGHAM INSTITUTION FOR SAVINGS (Nasdaq:HIFS), Hingham, Massachusetts announced that its Board of Directors declared a regular quarterly cash dividend of $0.28 per share. The dividend will be paid on July 20, 2015 to stockholders of record as of July 10, 2015.
Robert H. Gaughen, Jr., President and Chief Executive Officer of the Bank, in announcing the dividend, stated, "The Bank continues to produce strong returns on shareholder equity. These earnings are the product of conservative underwriting, disciplined cost control, and careful capital allocation. These results have allowed us to increase cash dividends declared in each of the last 20 years. This is our 86th consecutive regular quarterly dividend. We believe in a healthy dividend policy that reflects our continued success and rewards our shareholders for their confidence while maintaining a strong capital base."
In addition to regular quarterly cash dividends, Hingham Institution for Savings has declared special cash dividends in each of the last twenty 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 continuously operating banks in the United States. The Bank's main offices are located on Main Street in Hingham, MA. The Bank also maintains branch offices in South Hingham and the neighboring towns of Cohasset, Hull, Scituate, Norwell and Weymouth as well as branches in the South End of Boston, Beacon Hill and on the island of Nantucket.
The Bank's shares of common stock are listed and traded on The Nasdaq Stock Market under the symbol HIFS.