Popular Inc - BPOP STOCK NEWS

Evertec, Inc. (NYSE: EVTC) has announced a strategic agreement with Banco Popular de Puerto Rico (NASDAQ: BPOP) to extend key commercial agreements. This includes a 10-year extension of the Merchant Acquiring ISO Agreement, a 5-year extension of the ATH Network Participation Agreement, and a 3-year extension of the Master Services Agreement. Additionally, Evertec will sell certain assets to BPPR for approximately $197 million, payable in Evertec stock. Post-transaction, Evertec aims to enhance flexibility for growth opportunities, no longer being classified as a subsidiary of Popular.

Popular, Inc. (NASDAQ: BPOP) announced an acquisition agreement with Evertec, Inc. for $196.6 million, aiming to enhance its digital transformation. The deal involves acquiring assets from Evertec while assuming specific liabilities. Popular plans to amend existing service agreements with Evertec to reduce costs and improve service flexibility. The acquisition is expected to add around 175 employees and subsequently reduce Popular's voting stake in Evertec below 4.5%. The transaction is projected to yield approximately $350 million in after-tax gains and is set to close around June 30, 2022.

Popular, Inc. (NASDAQ: BPOP) will participate in the RBC Capital Markets Financial Institutions Conference on March 9, 2022. Carlos J. Vázquez, Executive VP and CFO, will speak at 10:00 a.m. ET. A live audio webcast will be accessible via the Popular, Inc. Investor Relations website, with a replay available after the event. Founded in 1893, Popular is the leading financial institution in Puerto Rico and ranks among the top 50 U.S. bank holding companies. The company offers a range of banking services in Puerto Rico, the U.S. Virgin Islands, and mainland U.S.

Popular, Inc. (NASDAQ: BPOP) has declared a quarterly cash dividend of $0.55 per share on its common stock. This dividend will be payable on April 1, 2022, to shareholders recorded by the close of business on March 15, 2022. As the leading financial institution in Puerto Rico regarding assets and deposits, Popular also ranks among the top 50 U.S. bank holding companies. Founded in 1893, the company offers a range of banking services through its principal subsidiary, Banco Popular de Puerto Rico, and has operations in the U.S. mainland via Popular Bank.

Popular, Inc. (NASDAQ: BPOP) declared a cash dividend of $0.132813 per share on its 6.375% Non-Cumulative Monthly Income Preferred Stock, payable on February 28, 2022, to shareholders of record as of February 15, 2022. Additionally, a distribution of $0.127604 per security will be paid on its 6.125% Cumulative Monthly Income Trust Preferred Securities on March 1, 2022, also to holders of record as of February 15, 2022.

Popular, Inc. (NASDAQ:BPOP) reported Q4 2021 net income of $206.1 million, down from $248.1 million in Q3 2021, and an annual net income of $934.9 million, up from $506.6 million in 2020. The net interest margin was 2.78%, slightly improved from 2.77% in Q3 2021. Non-performing loans (NPLs) decreased by $85 million to a ratio of 1.9%. The company announced a 22% dividend increase and a $500 million stock repurchase program for 2022, reflecting strong capital position and revenue diversity.

Popular Bank has appointed Adam E. Dejak as the new National Director of Residential Lending for Popular Mortgage. With over 20 years of experience in financial services, Dejak's leadership aims to enhance the mortgage program and expand lending offerings. His prior role was at Sterling National Bank, focusing on business development and capital markets. This change is expected to bolster Popular Bank's position in residential lending, helping clients build wealth through homeownership.

Popular, Inc. (NASDAQ: BPOP) has announced significant capital actions, including an increase in its quarterly common stock dividend from $0.45 to $0.55 per share, effective in the second quarter of 2022, pending Board approval. Additionally, the company plans to execute stock repurchases of up to $500 million during 2022. These steps reflect the strength of Popular's financial performance and capital position, aimed at delivering shareholder value while continuing to invest in its operations.

Popular, Inc. announced a $0.132813 monthly cash dividend for its 6.375% Non-Cumulative Monthly Income Preferred Stock, Series A, payable on January 31, 2022. Record date is January 15, 2022. Additionally, a $0.127604 monthly distribution on its 6.125% Cumulative Monthly Income Trust Preferred Securities will be payable on February 1, 2022, also to holders of record as of January 15, 2022. Popular, Inc. remains a leading financial institution in Puerto Rico.