WATERBURY, Conn.--(BUSINESS WIRE)--April 22, 2003--Webster
Financial Corporation (NYSE: WBS), the holding company for Webster
Bank, announced today that its Board of Directors approved a regular
quarterly cash dividend of $.21 per common share, an 11 percent
increase from Webster's last quarterly cash dividend of $.19 that was
paid on February 24, 2003. On an annual basis, Webster's dividend rate
increases from $.76 to $.84 per common share.
"Our strategic plan for growth is creating value for Webster's
customers and shareholders," stated Webster chairman and chief
executive officer, James C. Smith. "The dividend increase is a direct
result of Webster's strong financial performance and reflects our
solid capital position."
The dividend is payable on May 19, 2003, to shareholders of record
on May 5, 2003. This is the 63rd consecutive quarterly dividend since
Webster first paid a dividend in 1987 and the 13th time Webster's
dividend has been increased.
Webster Financial Corporation is the holding company for Webster
Bank and Webster Insurance. With $14 billion in assets, Webster Bank
provides business and consumer banking, mortgage, insurance, trust and
investment services through 110 banking offices, 219 ATMs, a
Connecticut-based call center and the Internet. Webster Financial
Corporation is majority owner of Chicago-based Duff & Phelps, LLC, a
leader in financial advisory services. Webster Bank owns the
asset-based lending firm, Whitehall Business Credit Corporation,
Budget Installment Corp., Center Capital Corporation, an equipment
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 website at
www.websteronline.com.
CONTACT: Webster Financial Corporation Clark Finley, 203/578-2429
cfinley@websterbank.com
SOURCE: Webster Financial Corporation