UPDATE: OFG Bancorp (OFG) Cuts Qtr. Dividend to 6c/Share; Yields 2.5%

OFG Bancorp (NYSE: OFG) declared a quarterly dividend of $0.06 per share, or $0.24 annualized. The dividend is a reduction from the prior rate of $0.10 per share.

The dividend will be payable on January 15, 2015, to stockholders of record on December 31, 2015, with an ex-dividend date of December 29, 2015.

The annual yield on the dividend is 2.5 percent.

“The decision of the Board to reduce the quarterly dividend from $0.10 per common share paid previously is in line with the normal range of yields in the industry,” said José Rafael Fernández, President, Chief Executive Officer, and Vice Chairman. “Our regulatory capital ratios are significantly above requirements for a well-capitalized institution. Our Board will continue to review the quarterly cash dividend on an annual basis.”

For a dividend history and other dividend-related data on OFG Bancorp (OFG) click here.

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