Hingham Institution for Savings As of September 21, 2021 ticker dps (an.) 2021 hike 2020 hike 2019 hike
HIFS $2.04 8.5% 14.6% 10.8%
Business yield Hike yrs 5 yr CAGR freq. paid since
Savings Bank 0.6% 14 9.8% Quarter 1993
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HIFS has also announced a dividend hike in the previous quarters © LOGO Hingham Institution for Savings
HIFS has also announced a dividend hike in the previous quarters © LOGO Hingham Institution for Savings

Hingham Institution for Savings (HIFS) will increase its quarterly dividend by another 4.7 percent to 45 cents per share in 2020. This follows a 2.4 percent to $0.43 per share in the third quarter of 2020 and is the third dividend hike announced by the savings bank this year. 

The increased dividend will be paid on October 14, 2020 to stockholders of record as of October 5, 2020. A regular annual dividend rate of $1.80 per share yields 1.0% at a stock price of $184. Hingham Institution for Savings now has reported 13 consecutive years of annual dividend increases.

In a press release dated September 23, 2020 the company announces the dividend hike: 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 107th 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 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.”

Hingham Institution for Savings will now pay an estimated $4 million in dividends to its shareholders annually. The company announced four dividend hikes in 2019 and has now reported three increases year-to-date in 2020 for a total dividend increase of 9.8 percent.

Hingham Institution for Savings is a Massachusetts-chartered savings bank located in Hingham, Massachusetts.  Incorporated in 1834, it is one of America’s oldest banks.  The Bank’s Main Office is located in Hingham and the Bank maintains offices on the South Shore, in Boston (South End and Beacon Hill), and on the island of Nantucket.  The Bank also provides commercial mortgage lending and private banking services in the Greater Washington D.C. metropolitan area. Hingham Institution for Savings has paid a dividend to shareholders every year since 1993.

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Ex-date Ticker Yield YTD hike
Sep 23 XRAY 0.7% 10.0%
Sep 23 SRE 3.4% 5.3%
Sep 23 FLS 2.3% 0.0%
Sep 23 MDT 2.0% 8.6%
Sep 23 RL 2.5% 0.0%
Sep 23 IFF 2.4% 2.6%
Sep 24 EQR 3.0% 0.0%
Sep 24 GE 0.3% 0.0%
Sep 24 CERN 1.2% 0.0%
Sep 27 AMT 1.8% 5.0%