News Details

WATERBURY, Conn.--(BUSINESS WIRE)--April 24, 2001--Webster Financial Corporation (Nasdaq: WBST), the holding company for Webster Bank, announced today that its board of directors has approved an increase in the regular quarterly cash dividend to $.17 per common share, from $.16 per common share. The new annualized dividend rate is $.68 per share.

"The Board of Directors is pleased to announce an increase in the quarterly cash dividend. Webster's strong results make it possible to increase the dividend while continuing to build shareholders' equity to support continuing growth," said James C. Smith, chairman and chief executive officer.

The dividend is payable on May 21, 2001, to shareholders of record on May 7, 2001. This is the 55th consecutive quarterly dividend - and the 11th dividend increase - since Webster first paid a dividend in 1987. It is the fourth dividend increase within the past two years.

Connecticut-based Webster Bank provides business and consumer banking, mortgage, insurance, trust and investment services through more than 100 banking offices, 200 ATMs and the Internet (www.websterbank.com). Webster's online mortgage subsidiary at www.nowlending.com on the Worldwide Web originates low-cost mortgages across the United States.

For more information on Webster, including past press releases and the latest Annual Report, visit the Webster Bank website at www.websterbank.com.

Statements in this press release regarding Webster Financial Corporation's business that are not historical facts are "forward looking statements" that involve risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statement, see "Forward Looking Statements" in the Company's Annual Report for the most recently ended fiscal year.

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