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Webster Stock Buy-Back
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Business New Haven
10/1/2001
By: BNH
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WATERBURY - Regional banking company Webster Financial Corp. (NASDAQ: WBST) on September 14 announced plans to repurchase up to 2.5 million shares, or about five percent, of its common stock.
“Over the near term, our repurchase plan will help to ensure liquidity and alleviate the affects of any order imbalances resulting from the events of the past week,'' the holding company for Webster Bank said, referring to the hijacked airliners that destroyed the World Trade Center in New York and damaged the Pentagon in Washington on September 11. The company has about 49.5 million shares outstanding, it said.
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