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WEBSTER FINANCIAL CORPORATION DECLARES 13 CENTS REGULAR QUARTERLY CASH DIVIDEND

 WATERBURY, Conn., April 28 /PRNewswire/ -- Webster Financial Corporation (NASDAQ: WBST), announced today that its board of directors has declared a regular quarterly cash dividend of 13 cents per share. The dividend is payable May 17, 1993 to shareholders of record on May 7, 1993.
 The corporation previously reported first quarter 1993 earnings of $7.3 million or $1.49 per fully diluted share, compared to $1.1 million or 33 cents per share for the same period in 1992. Earnings for the 1993 quarter include $4.3 million or 93 cents per fully diluted share, resulting from the implementation of Financial Accounting Standards Board Statement 109 relating to a cumulative change in the method of accounting for income taxes effective Jan. 1, 1993.
 Webster Financial Corporation is the holding company for First Federal Bank, which has 32 offices throughout Connecticut. Total assets at March 31, 1993 amounted to $2.1 billion. Shareholders' equity amounted to $116.5 million or 5.6 percent of total assets.
 -0- 4/28/93
 /CONTACT: Mark S. Mitchell of Webster Financial, 203-578-2336/
 (WBST)


CO: Webster Financial Corporation T: Connecticut IN: FIN SU: DIV

SJ-CH -- NE010 -- 2014 04/28/93 12:12 EDT
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Publication:PR Newswire
Date:Apr 28, 1993
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