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 now raised its dividend 14 consecutive years © company logo
HIFS has now raised its dividend 14 consecutive years © company logo

Hingham Institution for Savings (HIFS) will increase its quarterly dividend by 4.3 percent to 49 cents per share in Q1 of 2021. This follows a total dividend hike of 14.6 percent in 2020. Also a $0.70 per share special dividend was announced by the savings bank in 2020. HIFS has now raised its dividend 14 consecutive years.

The next dividend will be paid on April 21, 2021 to stockholders of record as of April 12, 2021. A regular annual dividend rate of $1.96 per share yields 0.7% at a stock price of $285. 

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.”

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 also reported 4 increases in 2020.

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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