Popular, Inc. Declares Dividend on Preferred Stock and Announces Distribution on Trust Preferred Securities

Rhea-AI Summary

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.

Positive

• Monthly cash dividend of $0.132813 per share announced for Non-Cumulative Monthly Income Preferred Stock.
• Monthly distribution of $0.127604 per security announced for Trust Preferred Securities.
• Dividends and distributions are payable on July 1, 2024, signaling consistent income for shareholders.

Negative

• No mention of any increase in dividend or distribution amounts, indicating no growth in shareholder returns.
• Ongoing distributions and dividends might suggest significant cash outflows which could impact liquidity.

SAN JUAN, Puerto Rico--(BUSINESS WIRE)-- Popular, Inc. (NASDAQ: BPOP) announced today that it has declared the following monthly cash dividend on its outstanding shares of Non-Cumulative Monthly Income Preferred Stock:

• a monthly cash dividend of $0.132813 per share of 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.

The Corporation also announced the following monthly distribution on its outstanding Trust Preferred Securities:

• a monthly distribution of $0.127604 per security of 6.125% Cumulative Monthly Income Trust Preferred Securities issued by Popular Capital Trust II, payable on July 1, 2024 to holders of record as of June 15, 2024.

About Popular, Inc.

Popular, Inc. (NASDAQ: BPOP) is the leading financial institution by both assets and deposits in Puerto Rico and ranks among the top 50 U.S. bank holding companies by assets. Founded in 1893, Banco Popular de Puerto Rico, Popular’s principal subsidiary, provides retail, mortgage and commercial banking services in Puerto Rico and the U.S. Virgin Islands. Popular also offers in Puerto Rico auto and equipment leasing and financing, investment banking, broker-dealer and insurance services through specialized subsidiaries. In the mainland United States, Popular provides retail, mortgage and commercial banking services through its New York-chartered banking subsidiary, Popular Bank, which has branches located in New York, New Jersey and Florida.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240605408475/en/

Popular, Inc.



Investor Relations:

Paul J. Cardillo, 212-417-6721

Investor Relations Officer

pcardillo@popular.com



or



Media Relations:

MC González Noguera, 917-804-5253

Executive Vice President and Chief Communications & Public Affairs Officer

mc.gonzalez@popular.com

Source: Popular, Inc.

FAQ

What is the dividend amount declared by Popular for its Preferred Stock?

Popular declared a monthly cash dividend of $0.132813 per share for its 6.375% Non-Cumulative Monthly Income Preferred Stock, 2003 Series A.

When is the dividend payment date for Popular's Preferred Stock?

The dividend payment date for Popular's Preferred Stock is July 1, 2024.

When is the record date for the dividend on Popular's Preferred Stock?

The record date for the dividend on Popular's Preferred Stock is June 15, 2024.

What is the distribution amount declared by Popular for its Trust Preferred Securities?

Popular declared a monthly distribution of $0.127604 per security for its 6.125% Cumulative Monthly Income Trust Preferred Securities.

When is the distribution payment date for Popular's Trust Preferred Securities?

The distribution payment date for Popular's Trust Preferred Securities is July 1, 2024.

When is the record date for the distribution on Popular's Trust Preferred Securities?

The record date for the distribution on Popular's Trust Preferred Securities is June 15, 2024.