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, 2003 Series A, payable on March 1, 2021. The record date for this dividend is February 15, 2021. Additionally, the company announced distributions for its Trust Preferred Securities: $0.139583 for the 6.700% Cumulative Monthly Income Trust Preferred Securities from Popular Capital Trust I, and $0.127604 for the 6.125% Cumulative Monthly Income Trust Preferred Securities from Popular Capital Trust II, both payable on March 1, 2021.

Positive

• Monthly cash dividend of $0.132813 per share enhances shareholder income.
• Sustainable distribution from Trust Preferred Securities supports investor confidence.

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 1, 2021 to holders of record as of February 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 March 1, 2021 to holders of record as of February 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 March 1, 2021 to holders of record as of February 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/20210205005022/en/

FAQ

What is the dividend amount for BPOP's Non-Cumulative Monthly Income Preferred Stock?

The dividend amount is $0.132813 per share.

When is the dividend for BPOP payable?

The dividend is payable on March 1, 2021.

What is the record date for the BPOP dividend?

The record date for the dividend is February 15, 2021.

What are the distributions for BPOP's Trust Preferred Securities?

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

When are the distributions for BPOP's Trust Preferred Securities payable?

The distributions are payable on March 1, 2021.