Hingham Institution for Savings (HIFS) Raises Quarterly Dividend 4.3% to $0.49; 0.7% Yield
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Hingham Institution for Savings (NASDAQ: HIFS) declared a quarterly dividend of $0.49 per share, or $1.96 annualized. This is a 4.3% increase from the prior dividend of $0.47.
The dividend will be payable on April 21, 2021, to stockholders of record on April 12, 2021, with an ex-dividend date of April 9, 2021.
The annual yield on the dividend is 0.7 percent.
Robert H. Gaughen, Jr., Chairman and Chief Executive Officer of the Bank, in announcing the dividend, stated, “The Bank continues to produce strong returns on equity capital. 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 109th consecutive quarterly dividend and we have consistently increased regular quarterly cash dividends over the last twenty-six years. The Bank has also declared special cash dividends in each of the last twenty-six years, typically in the fourth quarter. The Bank sets the level of the special dividend based on the Bank’s capital requirements and the prospective 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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