Welcome to our dedicated page for Popular news (Ticker: BPOP), a resource for investors and traders seeking the latest updates and insights on Popular stock.
Popular Inc (symbol: BPOP) is a prominent financial holding company headquartered in Puerto Rico. With its roots deeply embedded in financial services, Popular Inc. operates through four main subsidiaries. The most notable among them is Banco Popular de Puerto Rico, the leading financial institution on the island, serving over 1.4 million individuals and business clients.
Banco Popular de Puerto Rico offers an extensive range of financial products and services that cater to varying customer needs. The bank's expansive reach is evident through its network of over 600 ATMs and more than 160 branches. Additionally, it provides multiple convenient banking platforms such as Mi Banco Online, Mi Banco Mobile apps, and a 24/7 call center known as TeleBanco.
Popular Inc. also extends its operations to the continental United States through Banco Popular North America. Furthermore, the company diversifies its services with Evertec, a data processing firm, and Popular Financial Holdings, a diversified financial services company.
The corporation prides itself on its core values: social commitment, customer focus, integrity, excellence, innovation, and performance. With a heritage spanning over 121 years, Popular Inc. attributes its success to its more than 6,000 dedicated employees. The company not only offers competitive salaries and benefits but also fosters a familial corporate culture, ensuring that its workforce remains motivated and committed to exceptional performance.
Popular Inc. remains steadfast in its mission to provide top-quality financial services and continues to evolve and innovate to meet the growing needs of its clientele. The company’s commitment to excellence and innovation ensures that it remains a pivotal player in the financial industry.
To stay updated with the latest news and developments related to Popular Inc., be sure to follow our news section regularly.
Popular, Inc. (NASDAQ: BPOP) will announce its financial results for Q1 ending June 30, 2021, before market open on July 22, 2021. A conference call discussing the results is scheduled for the same day at 11:00 a.m. Eastern Time, accessible through its investor relations website. Participants should log in 15 minutes early for audio setup. A replay will be available post-call until August 22, 2021, via specified dial-ins and passcode.
Popular, Inc. is Puerto Rico's leading financial institution, offering various banking services across Puerto Rico and the mainland U.S.
Popular, Inc. (NASDAQ: BPOP) has appointed Betty DeVita and José R. Rodríguez as new independent directors of its Board, effective June 25, 2021. DeVita brings extensive banking and payments experience from her roles at Mastercard and Citigroup, while Rodríguez, a former audit partner at KPMG, offers deep expertise in accounting and auditing. Their appointments aim to strengthen the board's oversight and support Popular's growth strategy, as noted by Chairman Richard L. Carrión and CEO Ignacio Alvarez.
Popular, Inc. (Nasdaq: BPOP) announced the completion of the second round of the Paycheck Protection Program (PPP) on May 31, 2021, processing nearly 50,000 loans totaling $2.1 billion. In the latest PPP round, which started on January 19, the bank processed about 20,500 loans amounting to $673 million. The average loan size was $32,800, lower than the national average of $42,000. Popular was a leading institution in Puerto Rico, processing 62% of total PPP loans on the island, aiding approximately 136,000 jobs in sectors like food, retail, and health.
Popular, Inc. (NASDAQ: BPOP) has declared a monthly cash dividend of $0.132813 per share of its 6.375% Non-Cumulative Monthly Income Preferred Stock, payable on June 30, 2021, to holders of record as of June 15, 2021.
Additionally, the company announced distributions on its Trust Preferred Securities, including $0.139583 per security of its 6.700% Cumulative Monthly Income Trust Preferred Securities and $0.127604 per security of its 6.125% Cumulative Monthly Income Trust Preferred Securities, both payable on July 1, 2021.
Popular, Inc. (NASDAQ: BPOP) has declared a quarterly cash dividend of $0.45 per share, set for July 1, 2021, to shareholders recorded by May 26, 2021. This dividend reflects the company's ongoing commitment to shareholder returns. As a leading financial institution in Puerto Rico, Popular, Inc. ranks among the top 50 U.S. bank holding companies by assets and offers various banking services in Puerto Rico and the U.S. Virgin Islands, as well as retail banking through its subsidiary on the mainland.
Popular, Inc. (NASDAQ: BPOP) has declared a monthly cash dividend of $0.132813 per share on its 6.375% Non-Cumulative Monthly Income Preferred Stock, payable on June 1, 2021 to holders of record as of May 15, 2021. Additionally, it announced distributions on Trust Preferred Securities: $0.139583 per security on 6.700% Cumulative Monthly Income Trust Preferred Securities, and $0.127604 per security on 6.125% Cumulative Monthly Income Trust Preferred Securities, also payable on June 1, 2021 to holders of record as of May 15, 2021.
Popular, Inc. (NASDAQ: BPOP) has initiated an accelerated share repurchase (ASR) agreement to buy back $350 million of its common stock. The initial payment of $350 million will result in the delivery of 3,785,831 shares. This action, part of the company's capital strategy for 2021, will see approximately $280 million recognized in treasury stock and $70 million as a reduction in capital surplus. The ASR's final settlement is anticipated by Q3 2021, contingent on the stock's average price during the agreement period.
Popular, Inc. (NASDAQ:BPOP) reported a net income of $262.6 million for Q1 2021, up from $176.3 million in Q4 2020. Key highlights include a $82.2 million reversal in provision for credit losses due to improving economic conditions, resulting in an allowance for credit losses of $800 million, or 2.75% of loans. The bank also recorded an increase in net interest income to $479.1 million and a net interest margin of 3.07%. Additionally, the quarterly common stock dividend was raised to $0.45, and common stock repurchases of up to $350 million are planned.
Popular, Inc. (NASDAQ: BPOP) has announced key capital actions, including an increase in its quarterly dividend from $0.40 to $0.45 per share, effective from Q3 2021, pending Board approval. Additionally, the company plans to repurchase up to $350 million in common stock during 2021. CEO Ignacio Alvarez stated that these actions reflect Popular's resilience and commitment to returning excess capital to shareholders, while emphasizing careful management of its financial position and capital structure in the future.
Popular, Inc. (NASDAQ: BPOP) has declared a monthly cash dividend of $0.132813 per share on its 6.375% Non-Cumulative Monthly Income Preferred Stock, payable on April 30, 2021, to shareholders of record by April 15, 2021.
Additionally, the company announced distributions on its Trust Preferred Securities, including $0.139583 for the 6.700% series and $0.127604 for the 6.125% series, both payable on May 3, 2021, also to holders of record by April 15, 2021.
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