Hingham Savings Declares Regular Dividend
Hingham Institution for Savings (NASDAQ:HIFS) has declared a regular quarterly cash dividend of $0.63 per share, payable on January 15, 2025, to stockholders of record as of January 6, 2025. The bank acknowledges significantly lower returns on equity and assets in 2024 due to increased short-term interest rates and yield curve inversion. While no special dividend was declared in 2023 and 2024, breaking a 29-year tradition, the bank maintains its 124th consecutive quarterly dividend. Management emphasizes focus on capital allocation, defensive underwriting, and cost control, noting improving conditions as assets reprice higher and liabilities reprice lower.
Istituto di Risparmio Hingham (NASDAQ:HIFS) ha dichiarato un dividendo regolare in contanti di $0,63 per azione, pagabile il 15 gennaio 2025, agli azionisti registrati al 6 gennaio 2025. La banca riconosce ritorni significativamente più bassi su equity e attivi nel 2024 a causa dell'aumento dei tassi d'interesse a breve termine e dell'inversione della curva dei rendimenti. Sebbene non sia stato dichiarato un dividendo straordinario nel 2023 e nel 2024, interrompendo una tradizione di 29 anni, la banca mantiene il suo 124° dividendo trimestrale consecutivo. La direzione sottolinea l'importanza dell'allocazione del capitale, della sotto-scrittura difensiva e del controllo dei costi, osservando il miglioramento delle condizioni mentre gli attivi vengono rivalutati al rialzo e le passività al ribasso.
Institución de Ahorros Hingham (NASDAQ:HIFS) ha declarado un dividendo en efectivo trimestral regular de $0.63 por acción, pagadero el 15 de enero de 2025, a los accionistas registrados hasta el 6 de enero de 2025. El banco reconoce retornos significativamente más bajos sobre el capital y los activos en 2024 debido al aumento de las tasas de interés a corto plazo y la inversión de la curva de rendimientos. Aunque no se declaró un dividendo especial en 2023 ni en 2024, rompiendo una tradición de 29 años, el banco mantiene su 124.º dividendo trimestral consecutivo. La gerencia enfatiza la importancia de la asignación de capital, la suscripción defensiva y el control de costos, señalando la mejora de las condiciones a medida que los activos se revalorizan al alza y los pasivos se revalorizan a la baja.
힌검 저축은행 (NASDAQ:HIFS)은 주당 $0.63의 분기 현금 배당금을 2025년 1월 15일에, 2025년 1월 6일 기준 주주에게 지급한다고 발표했다. 이 은행은 2024년 단기 금리 상승과 수익률 곡선의 역전으로 인해 자본과 자산에 대한 수익률이 크게 낮아졌음을 인정하고 있다. 2023년과 2024년에 특별 배당금이 선언되지 않으면서 29년 전통이 깨졌지만, 은행은 124회 연속 분기 배당금을 유지하고 있다. 경영진은 자본 할당, 방어적 언더라이팅 및 비용 통제에 초점을 맞추고 있으며, 자산이 높아지고 부채가 낮아짐에 따라 조건이 개선되고 있음을 언급하고 있다.
Institut de Tas d'Hingham (NASDAQ:HIFS) a déclaré un dividende trimestriel en espèces régulier de 0,63 $ par action, payable le 15 janvier 2025, aux actionnaires inscrits au 6 janvier 2025. La banque reconnaît un rendement sur fonds propres et actifs significativement plus bas en 2024 en raison de l'augmentation des taux d'intérêt à court terme et de l'inversion de la courbe des rendements. Bien qu'aucun dividende spécial n'ait été déclaré en 2023 et 2024, rompant ainsi une tradition de 29 ans, la banque maintient son 124ème dividende trimestriel consécutif. La direction souligne l'importance de l'allocation de capital, de la souscription défensive et du contrôle des coûts, notant l'amélioration des conditions alors que les actifs sont réévalués à la hausse et les passifs à la baisse.
Hingham Institution for Savings (NASDAQ:HIFS) hat eine reguläre vierteljährliche Bar-Dividende von 0,63 USD pro Aktie bekannt gegeben, die am 15. Januar 2025 zahlbar ist, an Aktionäre, die am 6. Januar 2025 im Aktienregister stehen. Die Bank erkennt ein signifikant niedrigeres Eigenkapital- und Vermögensrendite im Jahr 2024 aufgrund der gestiegenen kurzfristigen Zinssätze und der Inversion der Zinsstrukturkurve an. Während in den Jahren 2023 und 2024 keine Sonderdividende erklärt wurde, was eine Tradition von 29 Jahren bricht, behält die Bank ihre 124. aufeinanderfolgende vierteljährliche Dividende bei. Das Management betont den Fokus auf Kapitalallokation, defensive Underwriting und Kostensenkung und stellt fest, dass sich die Bedingungen verbessern, während Vermögenswerte höher und Verbindlichkeiten niedriger bewertet werden.
- Maintaining consistent quarterly dividend payments (124th consecutive)
- Assets repricing higher and liabilities repricing lower, improving business conditions
- Strong focus on defensive underwriting and disciplined cost control
- Significantly lower returns on equity and assets in 2024
- Discontinued special dividend tradition in 2023 and 2024 after 29 years
- Challenging business environment due to interest rate increases and yield curve inversion
HINGHAM, Mass., Nov. 25, 2024 (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
Robert H. Gaughen, Jr., Chairman and Chief Executive Officer of the Bank, in announcing the dividend, stated, “Returns on equity and assets in 2024 have been significantly lower than our long-term performance, reflecting the challenge from the increase in short-term interest rates over the last twenty-four months and a historically long and deep inversion of the yield curve. These conditions have posed a significant - albeit ultimately temporary - challenge to our business model. Our core business has been particularly challenged during this period and our investment operations have been critical to sustaining some growth in book value per share in this environment. As our assets continue to reprice higher and our liabilities, including both deposits and wholesale funding, reprice lower, conditions have become somewhat more favorable for our model.
While this market environment has been extraordinarily challenging, the Bank’s business model has been built over time to compound shareholder capital through economic cycles. During all such periods, we remain 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. These remain constant, regardless of the macroeconomic environment in which we operate. I believe that over the past twenty-four months we have retained this focus and it will serve us well as our business emerges from this period.”
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 124th consecutive quarterly dividend. The Bank has also generally declared special cash dividends in each of the last twenty-nine years, typically in the fourth quarter, but did not declare a special dividend in 2023 and 2024. These special dividends have varied considerably, as 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. Given the present environment and the Bank’s capital generation capacity, the Bank believes that the prospective returns in the Bank’s core business currently warrant reinvestment of incremental capital to support lending at attractive pricing.
Incorporated in 1834, Hingham Institution for Savings is one of America’s oldest banks. The Bank maintains offices in Boston, Nantucket, Washington, D.C., and San Francisco.
The Bank’s shares of common stock are listed and traded on The NASDAQ Stock Market under the symbol HIFS.
CONTACT: Patrick R. Gaughen, President & Chief Operating Officer (781) 783-1761
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