HINGHAM, Mass., Nov. 25, 2015 (GLOBE NEWSWIRE) -- HINGHAM INSTITUTION FOR SAVINGS (NASDAQ:HIFS), Hingham, Massachusetts announced that its Board of Directors declared its regular quarterly cash dividend of $0.30 per share. The dividend will be paid on January 20, 2016 to stockholders of record as of January 8, 2016.
In addition to the regular quarterly dividend, the Bank's Board of Directors announced that it will pay a special dividend of $0.30 per share. This special dividend will also be paid on January 20, 2016 to stockholders of record as of January 8, 2016.
Robert H. Gaughen, Jr., President and Chief Executive Officer of the Bank, stated, “The Bank continues to produce strong returns on equity in 2015. This performance is the product of conservative underwriting, disciplined cost controls, and careful capital allocation. Although we are a publicly traded company in form, we are a partnership in spirit. Our special dividend reflects our belief that all partners should share in this performance through both capital appreciation and cash dividends. We remain committed to a dividend policy that returns capital to the ownership while reinvesting in profitable organic growth.”
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.