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 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.

Positive

• Monthly cash dividend of $0.132813 per share enhances shareholder income.
• Positive distribution announcements for Trust Preferred Securities indicate financial stability.

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 June 30, 2021 to holders of record as of June 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 July 1, 2021 to holders of record as of June 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 July 1, 2021 to holders of record as of June 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/20210604005420/en/

FAQ

What is the dividend amount declared by Popular, Inc. (BPOP) in June 2021?

Popular, Inc. has declared a monthly cash dividend of $0.132813 per share of its 6.375% Non-Cumulative Monthly Income Preferred Stock.

When will the dividends for Popular, Inc. (BPOP) be paid?

The dividends will be paid on June 30, 2021, for the Non-Cumulative Preferred Stock and on July 1, 2021, for the Trust Preferred Securities.

What are the distributions for Trust Preferred Securities by Popular, Inc. (BPOP)?

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

Who is eligible to receive the June 2021 dividends for Popular, Inc. (BPOP)?

Holders of record as of June 15, 2021, are eligible to receive the dividends.