Webster Bank, in the wake of its profitable first quarter, is again sharing more of that wealth with its common stockholders.
Waterbury parent Webster Financial Corp. says its board approved a nickel hike in its common-stock dividend, to 20 cents a share, payable May 19 to stockholders on record by May 5.
In April 2013, the bank lifted its common dividend by a nickel, to 15 cents, also after a profitable first quarter.
Webster posted $47.7 million in first-quarter net income, a 15.3 percent gain from a year ago, on increased commercial-loan bookings and transaction fees.
Webster reviews its dividend policy annually, a spokeswoman said Friday.
“In light of Webster’s solid financial performance and strong capital position, the board of directors voted to meaningfully increase the dividend on our common shares.” Chairman and CEO James C. Smith said.
The New England regional lender also declared its regular quarterly cash dividend of $21.25 a share on its Series A preferred, payable June 16 to holders of record by June 1.
Series E preferred holders of record on June 2 will collect their cash dividend of $400 a share on June 16, the bank said.