We will pay dividends on the Series E Preferred Stock, when, as, and if declared by our board of directors or a duly authorized committee of the board. Dividends will accrue and be payable from the date of issuance at a rate of 6.40% per annum, payable quarterly in arrears, on March 15, June 15, September 15 and December 15 of each year, beginning on March 15, 2013. Upon payment of any dividends on the Series E Preferred Stock, holders of depositary shares are expected to receive a proportionate payment.
Dividends on the Series E Preferred Stock will not be cumulative and will not be mandatory. If for any reason our board of directors or a duly authorized committee of the board does not declare a dividend on the Series E Preferred Stock for any dividend period (as defined herein), such dividend will not accrue or be payable, and we will have no obligation to pay dividends for such dividend period, whether or not dividends are declared for any future dividend period.
We may redeem the Series E Preferred Stock at our option, in whole or in part, on December 15, 2017, or any dividend payment date thereafter, at a redemption price equal to $25,000 per share (equivalent to $25 per depositary share), plus any declared and unpaid dividends, without accumulation of any undeclared dividends. The Series E Preferred Stock also may be redeemed at our option, in whole or in part, upon the occurrence of a Ùregulatory capital treatment event,ˆ as described herein, at a redemption price equal to $25,000 per share (equivalent to $25 per depositary share), plus any declared and unpaid dividends, without accumulation of any undeclared dividends.
Full Prospectus PDF », Secondary Prospectus PDF », WBS Page »
|
Webster Financial is a bank holding company and financial holding company. Co., through its subsidiary, Webster Bank, National Association (Webster Bank) and its HSA Bank division, delivers a range of banking, investment, and financial services. Webster Bank serves consumer and business customers with mortgage lending, financial planning, trust, and investment services through a distribution network consisting of banking centers, ATMs, a customer care center, and a range of web and mobile-based banking services. HSA Bank is a provider of health savings accounts and also delivers health reimbursement arrangements, and spending and commuter benefit account administration services. Preferreds: WBS.PRE, WBS.PRG, WBS.PRF Open the WBS Information Page » |
|
|
Free Email Alerts: Get Dividend Alerts Get SEC Filing Alerts |
|