Hingham Institution for Savings (HIFS) Raises Quarterly Dividend 2.4% to $0.42; 1.3% Yield

Hingham Institution for Savings (NASDAQ: HIFS) declared a quarterly dividend of $0.42 per share, or $1.68 annualized. This is a 2.4% increase from the prior dividend of $0.41.

The dividend will be payable on April 15, 2020, to stockholders of record on April 6, 2020, with an ex-dividend date of April 3, 2020.

The annual yield on the dividend is 1.3 percent.

Robert H. Gaughen, Jr., Chairman and Chief Executive Officer of the Bank, in announcing the dividend, stated, “Although economic conditions have been extraordinary and the near-term outlook remains uncertain, we remain intently focused on careful capital allocation, defensive underwriting, and disciplined cost control - the building blocks for compounding shareholder capital through all stages of the economic cycle. The Bank continues to produce strong operating returns on equity capital. These returns are the product of conservative underwriting, disciplined cost control, and careful capital allocation. The Bank regularly considers all capital allocation options and continues to return capital to the ownership through both regular and special dividends. This will be our 105th consecutive quarterly dividend and we have consistently increased regular quarterly cash dividends over the last twenty-five years. The Bank has also declared special cash dividends in each of the last twenty-five years, typically in the fourth quarter. The Bank sets the level of the special dividend based on the Bank’s capital requirements and the return on other capital allocation options. This may result in special dividends, if any, significantly above or below the regular quarterly dividend. Future regular and special 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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