Hingham Institution for Savings (HIFS) Raises Quarterly Dividend 6.7% to $0.32; Yields 0.9%
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Hingham Institution for Savings (NASDAQ: HIFS) declared a quarterly dividend of $0.32 per share, or $1.28 annualized. This is a 6.7% increase from the prior dividend of $0.30.
The dividend will be payable on October 19, 2016, to stockholders of record on October 10, 2016, with an ex-dividend date of October 5, 2016.
The annual yield on the dividend is 0.9 percent.
Robert H. Gaughen, Jr., President and CEO of the Bank, in announcing the dividend, stated, “The Bank continues its record of strong performance with solid balance sheet growth and strong returns on equity capital. These returns are the product of conservative underwriting, disciplined cost control, and careful capital allocation. These returns have allowed us to consistently increase regular quarterly cash dividends over the last 20 years. This is our 91st consecutive regular quarterly dividend. It is part of our ongoing effort to allocate capital in order to create value for our owners.”
In addition to regular quarterly cash dividends, the Bank has declared special cash dividends in each of the last twenty one years. Future dividends will be considered by the Board of Directors on a quarterly basis.
For a dividend history and other dividend-related data on Hingham Institution for Savings (HIFS) click here.
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