Popular (BPOP) increases dividend, announces new buyback program

April 12, 2021 8:35 AM EDT

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Popular, Inc. (“Popular” or the “Corporation”) (NASDAQ: BPOP) announced today the following capital actions:

  • an increase in the Corporation’s quarterly common stock dividend from $0.40 per share to $0.45 per share, commencing with the dividend payable in the third quarter of 2021, subject to the approval by the Corporation’s Board of Directors; and
  • common stock repurchases of up to $350 million during 2021.

“Our capital actions demonstrate Popular’s resiliency in times of uncertainty and our commitment to continue to return excess capital responsibly to our shareholders,” said Ignacio Alvarez, President & Chief Executive Officer. “We have proven our ability to manage through challenging times. Now, as always, our focus is on supporting our employees, clients and communities while maintaining a strong financial and capital position. While we do not expect further dividend increases and common stock repurchases in 2021, we will continue to explore opportunities to manage our capital structure during the remainder of 2021 and in future periods.”

The Corporation’s planned common stock repurchases may be executed in the open market or in privately negotiated transactions. The timing and exact amount of such repurchases will be subject to various factors, including market conditions and the Corporation’s capital position and financial performance.

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Dividend Hike, Dividends, Stock Buybacks