WATERBURY, Conn., April 18 /PRNewswire-FirstCall/ -- Webster Financial
Corporation (NYSE: WBS), the holding company for Webster Bank, N.A., announced
today that its Board of Directors approved a 9 percent increase in the regular
quarterly cash dividend to $.25 per common share, up from Webster's last
quarterly cash dividend of $.23 paid on February 28, 2005. On an annual
basis, Webster's dividend rate increases to $1.00 from $.92 per common share.
"Creating value for shareholders and customers is the foundation of
Webster's strategic plan for growth," stated Webster Chairman and Chief
Executive Officer James C. Smith. "This dividend increase reflects the
confidence of our Board of Directors in our ability to achieve our ambitious
goals and in the dedication of our 3,300 employees."
The dividend is payable on May 16, 2005 to shareholders of record on May
2, 2005. This is the 71st consecutive quarterly dividend since Webster first
paid a dividend in 1987 and the 15th time Webster's dividend has been
increased.
Webster Financial Corporation is the holding company for Webster Bank,
National Association and Webster Insurance. With $17 billion in assets,
Webster provides business and consumer banking, mortgage, insurance, financial
planning, trust and investment services through 153 banking offices, 291 ATMs,
telephone banking and the Internet. Webster Bank owns the asset-based lending
firm Webster Business Credit Corporation, the insurance premium finance
company Budget Installment Corp., Center Capital Corporation, an equipment
finance company headquartered in Farmington, Connecticut and provides health
savings account trustee and administrative services through HSA Bank, a
division of Webster Bank.
For more information about Webster, including past press releases and the
latest annual report, visit the Webster website at
http://www.websteronline.com .
Media Contact Investor Contact
Meghan Thompson 203-578-2287 Terry Mangan 203-578-2318
mthompson@websterbank.com tmangan@websterbank.com
SOURCE Webster Financial Corporation
-0- 04/18/2005
/CONTACT: Media, Meghan Thompson, +1-203-578-2287,
mthompson@websterbank.com, or Investor, Terry Mangan, +1-203-578-2318,
tmangan@websterbank.com, both of Webster Financial Corporation/
/Web site: http://www.websteronline.com /
(WBS)
CO: Webster Financial Corporation
ST: Connecticut
IN: FIN
SU: DIV
MP
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5435 04/18/2005 15:25 EDT http://www.prnewswire.com