Webster Financial

(WBS) - Get Report

boosted its quarterly dividend by 8% to 27 cents a share from 25 cents.

The Waterbury, Conn., company's annual dividend will now total $1.08, up from $1.

"We've grown our business and strengthened our balance sheet over the past year," the company said. "This dividend increase underscores the Board of Directors' confidence in Webster's progress toward achieving its vision to be the region's leading financial services provider."

The latest dividend is payable May 15 to shareholders of record May 1. Webster shares closed Mondat at $47.97, up 41 cents.

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