Webster Financial Raises Quarterly Dividend 50%

Business and consumer banking concern Webster Financial  (NYSE: WBS  )  announced yesterday that its board of directors has approved increasing its quarterly dividend by 50%, from $0.10 per share to $0.15 per share. The new, higher payment will be made on May 20 to stockholders of record as of May 6.

Webster also declared a regular quarterly cash dividend of $21.25 per share on its Series A Convertible Preferred Stock, payable on June 17 to shareholders of record on June 1. On its Series E preferred stock, Webster declared a quarterly cash dividend of $400.00 per share, or $0.40 per each depositary share, 1,000 of which represent one share of Series E preferred stock. It will also be payable on June 17 to shareholders of record on June 1.

Webster Financial CEO James C. Smith cited "growth and quality of earnings and Webster's strong capital base."

Webster provides business and consumer banking, mortgages, financial planning, trust and investment services through 168 banking offices and has $20 billion in assets. The chart below does not include this week's dividend announcement.

WBSPRE Dividend Chart

WBSPRE Dividend data by YCharts.

link


Read/Post Comments (0) | Recommend This Article (1)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 2380707, ~/Articles/ArticleHandler.aspx, 9/20/2014 10:15:35 PM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...


Advertisement