WATERBURY, Conn., Apr 23, 2002 (BUSINESS WIRE) -- Webster Financial Corporation
(Nasdaq: WBST), the holding company for Webster Bank, announced that its board
of directors approved a 12 percent increase in its regular quarterly cash
dividend to $.19 per common share, from $.17 per common share. On an annualized
basis Webster's dividend rate increases from $.68 to $.76 per common share.
"We are pleased to announce the 5th increase in the dividend within the past
three years. Webster's performance, asset quality and strong capital position
make it possible to increase the dividend while continuing to invest in our
strategic growth initiatives," said James C. Smith, chairman and chief executive
officer.
The dividend is payable on May 20, 2002, to shareholders of record on May 6,
2002. This is the 59th consecutive quarterly dividend and the 12th dividend
increase since Webster first paid a dividend in 1987.
Webster Financial Corporation is the holding company for Webster Bank and
Webster Insurance. With $12 billion in assets, Connecticut-based Webster Bank
provides business and consumer banking, mortgage, insurance, trust and
investment services through more than 100 banking offices, 210 ATMs and the
Internet (www.websterbank.com). Webster Financial Corporation is majority owner
of Chicago-based Duff & Phelps, LLC, a leader in financial advisory services,
and Webster Bank and Center Capital Corporation, an equipment leasing and
financing company headquartered in Farmington, Connecticut and Webster Trust
Company, N.A.
For more information about Webster, including past press releases and the latest
Annual Report, visit the Webster Bank web site at www.websterbank.com.
CONTACT: Webster Financial Corporation
Media Contact:
Clark Finley, 203/578-2429
cfinley@websterbank.com
or
Investors:
James M. Sitro, 203/578-2399
jsitro@websterbank.com