Webster Financial Corporation announced that its Board of Directors increased the company’s authority to repurchase shares of its common stock by $700,000,000. This substantial increase is part of its existing share repurchase program.
The repurchase program allows for shares to be bought back in open market or private transactions, through block trades, and pursuant to Rule 10b5-1 trading plans. Repurchases will be executed at management’s discretion, considering factors such as stock availability, market conditions, and the company’s financial performance.
Webster expects to utilize this increased authority for share repurchases in 2025 and future years, subject to management’s discretion and regulatory limitations. This move signals the company's strong capital position and its commitment to enhancing shareholder value through disciplined capital deployment.
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