WESTERLY, R.I.--(BUSINESS WIRE)--March 18, 2004--The Board of
Directors of Washington Trust Bancorp, Inc., (NASDAQ: National Market;
symbol: WASH), today declared a quarterly dividend of 17 cents per
share for the quarter ending March 31, 2004. The dividend is payable
April 15, 2004 to shareholders of record on April 2, 2004. This
represents an increase from the previous quarterly dividend of 16
cents per share.
John C. Warren, Chairman and Chief Executive Officer of Washington
Trust, said, "This dividend declaration represents our twelfth
consecutive year of dividend increases, and our third dividend
increase since the beginning of 2003. We are pleased that we are once
again able to enhance our shareholder value."
Washington Trust Bancorp, Inc. is the parent company of The
Washington Trust Company, a Rhode Island chartered community bank
founded in 1800. The Bank offers a full range of financial services,
including trust and investment management, through its offices in
Rhode Island and southeastern Connecticut. Washington Trust Bancorp,
Inc.'s common stock trades on The Nasdaq Stock Market(R) under the
symbol WASH. Investment information about the Corporation is available
on the Internet at www.washtrust.com.
This report contains certain statements that may be considered
"forward-looking statements" within the meaning of Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the Securities
Exchange Act of 1934, as amended. The Corporation's actual results,
performance or achievements could differ materially from those
projected in the forward-looking statements as a result, among other
factors, of changes in general national or regional economic
conditions, changes in interest rates, reductions in the market value
of trust and investment assets under management, reductions in loan
demand, reductions in deposit levels necessitating increased borrowing
to fund loans and investments, changes in loan default and charge-off
rates, changes in the size and nature of the Corporation's
competition, changes in legislation or regulation and accounting
principles, policies and guidelines and changes in the assumptions
used in making such forward-looking statements.
CONTACT: Washington Trust Bancorp
Elizabeth B. Eckel, 401-348-1309
SOURCE: Washington Trust Bancorp, Inc.