The Evertec Board of Directors (NYSE: EVTC) has voted to temporarily suspend the quarterly dividend on the Company's common stock due to the difficult operating environment in Puerto Rico. The Board anticipates reviewing the dividend policy as conditions stabilize in Puerto Rico. Future dividend declarations are subject to Board of Directors' approval and may be adjusted based on business needs or as market conditions change.

The Board approved an extension of the Company's current stock repurchase program to December 31, 2020. The program was due to expire on December 31, 2017. As of September 30, 2017, a total of approximately $72 million is available for future use. The Company may repurchase shares in the open market, through an accelerated share repurchase program or in privately negotiated transactions, subject to business opportunities and other factors.