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 an 11 percent increase in the
regular quarterly cash dividend of $.30 per common share, up from Webster's
last quarterly cash dividend of $.27 paid on February 26, 2007. On an annual
basis, Webster's dividend increases to $1.20 from $1.08 per common share.
"I am pleased to announce a significant increase in Webster's dividend
made possible by the overall growth of our business and the successful
completion of our balance sheet restructuring, " stated Webster Chairman and
Chief Executive Officer James C. Smith. "This dividend underscores the Board
of Directors' confidence in Webster's progress toward achieving our vision to
be New England's bank."
The dividend is payable on May 16, 2007 to shareholders of record on May
2, 2007. This is the 79th consecutive quarterly dividend since Webster first
paid a dividend in 1987 and the 17th time Webster's dividend has been
increased.
Webster Financial Corporation is the holding company for Webster Bank,
National Association and Webster Insurance. With $17.1 billion in assets,
Webster provides business and consumer banking, mortgage, insurance, financial
planning, trust and investment services through 177 banking offices, 334 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 www.websteronline.com.
SOURCE
Webster Financial Corporation
CONTACT:
Media
Clark Finley
203-578-2287
cfinley@websterbank.com
Investors
James Sitro
203-578-2399
jsitro@websterbank.com