Webster Financial Corporation (NYSE:WBS) to Issue $0.40 Quarterly Dividend

Webster Financial Corporation (NYSE:WBS) announced a quarterly dividend on Wednesday, April 29th. Stockholders of record on Monday, May 11th will be given a dividend of 0.40 per share by the financial services provider on Thursday, May 21st. This represents a c) annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend is Monday, May 11th.

Webster Financial has a dividend payout ratio of 24.6% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Webster Financial to earn $7.35 per share next year, which means the company should continue to be able to cover its $1.60 annual dividend with an expected future payout ratio of 21.8%.

Webster Financial Price Performance

Shares of NYSE:WBS opened at $72.02 on Thursday. The company has a market cap of $11.67 billion, a P/E ratio of 12.19 and a beta of 1.03. The business has a fifty day simple moving average of $70.54 and a 200-day simple moving average of $65.25. Webster Financial has a 52 week low of $46.81 and a 52 week high of $74.00. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.40.

Webster Financial (NYSE:WBS) last released its earnings results on Tuesday, April 28th. The financial services provider reported $1.57 earnings per share for the quarter, topping the consensus estimate of $1.53 by $0.04. Webster Financial had a return on equity of 11.10% and a net margin of 22.67%.The firm had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $749.96 million. During the same period in the prior year, the business posted $1.30 earnings per share. The firm’s revenue for the quarter was up 4.4% compared to the same quarter last year. Equities research analysts forecast that Webster Financial will post 6.61 EPS for the current year.

About Webster Financial

Webster Financial Corporation is a bank holding company headquartered in Waterbury, Connecticut. Through its principal subsidiary, Webster Bank, N.A., the company offers a broad range of banking products and financial services to individuals, small businesses, and middle-market commercial clients. Key offerings include deposit accounts, residential and commercial real estate lending, equipment finance, treasury management, and payment processing solutions.

In addition to traditional banking services, Webster Financial provides wealth management and insurance products designed to help clients plan for retirement, preserve assets, and manage risk.