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

Rhea-AI Summary

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 March 31, 2021, to shareholders on record as of March 15, 2021. The company also announced monthly distributions for its Trust Preferred Securities: $0.139583 per security for 6.700% Cumulative Monthly Income Trust Preferred Securities, and $0.127604 per security for 6.125% Cumulative Monthly Income Trust Preferred Securities, both payable on April 1, 2021.

Positive

• Monthly cash dividend of $0.132813 per share indicates a commitment to return value to shareholders.
• Trust Preferred Securities distributions highlight stable income generation.

Negative

• None.

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 March 31, 2021 to holders of record as of March 15, 2021.

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

• a monthly distribution of $0.139583 per security of 6.700% Cumulative Monthly Income Trust Preferred Securities issued by Popular Capital Trust I, payable on April 1, 2021 to holders of record as of March 15, 2021; and
• 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 April 1, 2021 to holders of record as of March 15, 2021.

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/20210304005856/en/

FAQ

What is the dividend amount declared by Popular, Inc. for March 2021?

The declared dividend amount is $0.132813 per share on its 6.375% Non-Cumulative Monthly Income Preferred Stock.

When will Popular, Inc.'s dividend be paid?

The dividend will be payable on March 31, 2021.

What are the distributions for Popular, Inc.'s Trust Preferred Securities?

The distributions are $0.139583 per security for 6.700% Cumulative Monthly Income Trust Preferred Securities and $0.127604 per security for 6.125% Cumulative Monthly Income Trust Preferred Securities.

When will distributions for Trust Preferred Securities be paid?

The distributions will be payable on April 1, 2021.