Company: WBS-PG
Filing Date: 2025-05-09
Form Type: 10-Q
Source: 0000801337-25-000026
Chunk: 112

Company: WEBSTER FINANCIAL CORP
Filing Date: 2025-05-09
Form: 10-Q
Item: Part I, Item 2
Chunk 112
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 of dividends to the Holding Company, which can be found within Note 10: Regulatory Capital and Restrictions in the Notes to Condensed Consolidated Financial Statements contained in Part I - Item 1. Financial Statements of this report, and under the section captioned “Supervision and Regulation” in Part I - Item 1. Business of the Company’s Annual Report on Form 10-K for the year ended December 31, 2024. During the three months ended March 31, 2025, the Bank paid $100.0 million in dividends to the Holding Company. At March 31, 2025, there was $641.4 million of retained earnings available for the payment of dividends by the Bank to the Holding Company. On April 30, 2025, the Bank was approved to pay the Holding Company $200.0 million in dividends for the second quarter of 2025.

The quarterly cash dividend to common stockholders remained at $0.40 per common share for the three months ended March 31, 2025. On April 30, 2025, it was announced that the Holding Company’s Board of Directors had declared a quarterly cash dividend of $0.40 per share on Webster common stock. For the Series F Preferred Stock and Series G Preferred Stock, quarterly cash dividends of $328.125 per share and $16.25 per share, respectively, were declared. The Company continues to monitor economic forecasts, anticipated earnings, and its capital position in the determination of its dividend payments.

The Holding Company maintains a common stock repurchase program, which was approved by the Board of Directors, that permits management to repurchase shares of its common stock in open market or private transactions, through block trades, and pursuant to any trading plan that may be adopted in accordance with Rule 10b5-1 of the SEC, subject to the availability and trading price of stock, general market conditions, alternative uses for capital, regulatory considerations, and the Company’s financial performance. During the three months ended March 31, 2025, the Holding Company repurchased 3,569,454 shares under the program at a weighted-average price of $50.70 per share, totaling $181.0 million. At March 31, 2025, the Holding Company’s remaining repurchase authority was $47.0 million. On April 30, 2025, the Board of Directors increased management’s authority to repurchase shares of Webster common stock under the repurchase program