Popular Inc - BPOP STOCK NEWS

Popular, Inc. (NASDAQ: BPOP) announced a quarterly cash dividend of $0.55 per share on outstanding common stock. This dividend will be payable on July 1, 2022, to shareholders recorded by the close of business on June 2, 2022.

As the leading financial institution in Puerto Rico, Popular provides various banking services, including retail, mortgage, and commercial banking. The company has a solid reputation, ranking among the top 50 U.S. bank holding companies by assets.

Popular Bank has appointed Bertha Rozier as SVP of Retail Banking and US Transformation, enhancing its leadership team. With over 30 years of financial industry experience, including 21 years at HSBC, Rozier aims to drive growth in the bank's retail sector. She will report to COO Manuel Chinea and join the senior management team. Popular Bank operates 39 branches in the U.S., primarily in the New York Metro area and emphasizes a customer-focused approach to innovation and service.

Popular, Inc. (NASDAQ: BPOP) has declared a monthly cash dividend of $0.132813 per share for its 6.375% Non-Cumulative Monthly Income Preferred Stock, payable on May 31, 2022. Record holders as of May 15, 2022 will receive this dividend. Additionally, the company announced a monthly distribution of $0.127604 per security for its 6.125% Cumulative Monthly Income Trust Preferred Securities, payable on June 1, 2022, also to record holders as of May 15, 2022.

Popular is set to invest over $300 million in constructing a new corporate campus in Hato Rey, Puerto Rico, with plans to centralize its operations by 2026. The project aims to create nearly 1,700 jobs during its construction phase and will feature two buildings offering amenities such as a Training and Development Center, wellness center, and parking for 1,300 cars. The design focuses on sustainability, aiming for LEED certification. This initiative is seen as a key factor in the economic recovery of the region.

Popular reported a net income of $211.7 million for Q1 2022, up from $206.1 million in Q4 2021. The net interest margin was 2.75%, slightly down from 2.78% in the previous quarter. Non-performing loans decreased by $28 million, resulting in a 1.8% NPL to loans ratio. Net charge-offs rose to $3.8 million, compared to a recovery of $7.9 million in Q4 2021. Capital ratios remained strong with a Common Equity Tier 1 ratio of 16.26%. The company also announced an accelerated stock repurchase of $400 million and increased its dividend to $0.55 per share.

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, effective May 2, 2022, to shareholders of record by April 15, 2022. Additionally, it announced a distribution of $0.127604 per security on its 6.125% Cumulative Monthly Income Trust Preferred Securities, also payable on May 2, 2022, with the same record date. As a leading financial institution in Puerto Rico, Popular provides a wide array of banking services and ranks among the top 50 U.S. bank holding companies.

Popular, Inc. (NASDAQ:BPOP) announced its financial results for the first quarter ending March 31, 2022, will be reported before the market opens on April 26, 2022. A conference call to discuss these results is scheduled for the same day at 11:00 a.m. Eastern Time, available via the investor relations section of their website. Listeners are encouraged to access the site 15 minutes early. A replay will be available after the call until May 24, 2022, with specific dial-in details provided.

AM Best has affirmed the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating of "bbb+" (Good) for Popular Life Re (PLRe), a life insurance subsidiary of Popular, Inc. (BPOP). The ratings reflect PLRe's very strong balance sheet strength and adequate operating performance, with a stable outlook. Despite some challenges, such as declining premium growth and geographic concentration risk, PLRe continues to seek expansion opportunities in Latin America. Overall, the ratings indicate a favorable credit profile for PLRe within the insurance market.

Popular, Inc. (NASDAQ: BPOP) has declared a monthly cash dividend of $0.132813 per share for its 6.375% Non-Cumulative Monthly Income Preferred Stock, 2003 Series A, payable on March 31, 2022. Holders of record by March 15, 2022 will receive the payment. Additionally, the company announced a distribution of $0.127604 per security for its 6.125% Cumulative Monthly Income Trust Preferred Securities, payable on April 1, 2022. This reflects Popular's ongoing commitment to providing returns to shareholders.