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. announced its Q2 2024 financial results, reporting a net income of $177.8 million, a significant increase from $103.3 million in Q1 2024. Excluding one-time expenses from Q1 2024, net income rose by $42.6 million. Net interest income grew to $568.3 million, up by $17.6 million, with a net interest margin of 3.22%, compared to 3.16% in Q1 2024. Non-interest income slightly increased to $166.3 million. Operating expenses decreased by $13.5 million but rose by 1.5% excluding specific transactions. Credit quality improved, with non-performing loans down by $12.3 million and net charge-offs reduced by $8.6 million. Loans and deposits both saw growth, with ending balances of $35.6 billion and $65.5 billion, respectively.
Popular enhanced shareholder value by announcing a $500 million stock repurchase and a 13% increase in its quarterly dividend. The Common Equity Tier 1 ratio was 16.48%, and Tangible Book Value per share was $62.71.
Popular, Inc. (NASDAQ: BPOP) has announced significant capital actions, demonstrating its strong financial position. The plans to repurchase up to $500 million of common stock through various methods, including open market transactions and block trades. Additionally, Popular will increase its quarterly common stock dividend from $0.62 to $0.70 per share, effective from the first quarter of 2025, subject to board approval.
These capital actions reflect Popular's robust capital position and its commitment to balancing customer needs with shareholder returns. CEO Ignacio Alvarez emphasized that these moves allow the company to continue serving customers while prudently increasing dividends and returning capital to shareholders. The timing, quantity, and price of stock repurchases will be influenced by market conditions, capital position, financial performance, and regulatory considerations.
Popular has declared a monthly cash dividend of $0.132813 per share on its 6.375% Non-Cumulative Monthly Income Preferred Stock, Series A, payable on July 31, 2024, to holders of record as of July 15, 2024.
The company also announced a monthly distribution of $0.127604 per security on its 6.125% Cumulative Monthly Income Trust Preferred Securities, payable on August 1, 2024, to holders of record as of July 15, 2024.
Popular, Inc. (NASDAQ:BPOP) will release its Q2 financial results for the period ending June 30, 2024, on July 24, 2024, before the market opens. The company will also hold a conference call at 11:00 a.m. ET the same day to discuss these results. The call will be streamed live on Popular's investor relations website, and a replay will be available until August 23, 2024. Popular, Inc. is a leading financial institution in Puerto Rico and among the top 50 U.S. bank holding companies.
Popular announced a monthly cash dividend of $0.132813 per share for its 6.375% Non-Cumulative Monthly Income Preferred Stock, 2003 Series A, payable on July 1, 2024 to holders of record as of June 15, 2024.
Additionally, the company declared a monthly distribution of $0.127604 per security for its 6.125% Cumulative Monthly Income Trust Preferred Securities issued by Popular Capital Trust II, also payable on July 1, 2024 to holders of record as of June 15, 2024.
Popular, Inc. (NASDAQ:BPOP) announced the appointment of Javier D. Ferrer as President and Chief Operating Officer. Ferrer will continue reporting to Popular's CEO and oversee all business units in Puerto Rico, mainland US, and the Virgin Islands. He will also lead Popular's strategic planning and data analytics functions, effective May 9, 2024.
Popular, Inc. (NASDAQ: BPOP) declared a quarterly cash dividend of $0.62 per share on its outstanding common stock. The dividend will be payable on July 1, 2024 to shareholders of record at the close of business on May 30, 2024.
Popular, Inc. (NASDAQ: BPOP) declared a monthly cash dividend and distribution on its preferred stock and trust preferred securities. The dividend on the Non-Cumulative Monthly Income Preferred Stock is $0.132813 per share, while the distribution on the Trust Preferred Securities is $0.127604 per security.
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