HINGHAM, Mass., Nov. 20, 2023 (GLOBE NEWSWIRE) -- HINGHAM INSTITUTION FOR SAVINGS (NASDAQ:HIFS) ("the Bank"), Hingham, Massachusetts, announced that its Board of Directors has declared a regular quarterly cash dividend of $0.63 per share. The dividend will be paid on January 10, 2024 to stockholders of record as of January 2, 2024.
Robert H. Gaughen, Jr., Chairman and Chief Executive Officer of the Bank, in announcing the dividend, stated, "Returns on equity and assets in 2023 have remained significantly lower than our long-term performance, reflecting the challenge from the increase in short-term interest rates over the last twelve months and the inversion of the yield curve. As the Federal Reserve approaches the level of short-term rates that is sufficiently restrictive to return inflation to its target, the yield curve has started to ...