First BanCorp. Announces Payment of Dividends on Preferred Stock

Rhea-AI Summary

First BanCorp. (NYSE: FBP) announced the declaration of monthly cash dividends for its Series A through E Noncumulative Perpetual Monthly Income Preferred Stock. The annual dividend rates range from 7.00% to 8.35%, with monthly dividends per share between $0.14583330 and $0.17395800. The record date for these dividends is July 15, 2021, and payments will be made on August 2, 2021. The total number of outstanding shares varies by series, with the largest being 415,240 for Series E.

Positive

• Monthly dividends declared for preferred stock, providing income to shareholders.
• Competitive annual dividend rates ranging from 7.00% to 8.35%.

Negative

• None.

First BanCorp. (the “Corporation”) (NYSE: FBP), the bank holding company for FirstBank Puerto Rico, announced today that its Board of Directors has declared the following monthly cash dividends on its outstanding shares of Series A through E Noncumulative Perpetual Monthly Income Preferred Stock (the “Preferred Stock”):

 

Series		Annual Dividend Rate (%)		Monthly Dividend Per Share		Outstanding Shares		Record Date		Payment Date
A		7.125%		$0.14843750		197,386		July 29, 2021		August 2, 2021
B		8.35%		$0.17395800		296,146		July 15, 2021		August 2, 2021
C		7.40%		$0.15416670		249,852		July 15, 2021		August 2, 2021
D		7.25%		$0.15104167		285,522		July 15, 2021		August 2, 2021
E		7.00%		$0.14583330		415,240		July 15, 2021		August 2, 2021

About First BanCorp.

First BanCorp. is the parent corporation of FirstBank Puerto Rico, a state-chartered commercial bank with operations in Puerto Rico, the U.S. and British Virgin Islands and Florida, and of FirstBank Insurance Agency, LLC. Among the subsidiaries of FirstBank Puerto Rico are First Federal Finance Limited Liability Company and First Express, Inc., both small loan companies. First BanCorp’s shares of common stock trade on the New York Stock Exchange under the symbol “FBP.”

Safe Harbor

This press release may contain “forward-looking statements” concerning the Corporation. The words or phrases “expect,” “anticipate,” “intend,” “look forward,” “should,” “would,” “believes” and similar expressions are meant to identify “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and are subject to the safe harbor created by such sections. Such forward-looking statements include, but are not limited to, statements regarding the Corporation’s ability to declare dividends on the Corporation’s Preferred Stock in any future periods. Such statements are subject to known and unknown risks, uncertainties and contingencies that may cause actual results to differ materially from the expectations, intentions, beliefs, plans, estimates or predictions of the future expressed or implied by such forward-looking statements. These risks, uncertainties and contingencies include, but are not limited to the factors described in the Corporation’s Annual Report on Form 10-K, in its Quarterly Reports on Form 10-Q and in other filings with the SEC. The Corporation does not undertake, and specifically disclaims any obligation, to update any “forward-looking statements” to reflect occurrences or unanticipated events or circumstances after the date of such statements, except as required by the federal securities laws.

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FAQ

What are the dividend details for First BanCorp (FBP) in July 2021?

First BanCorp declared dividends for its Series A through E Preferred Stock, with annual rates between 7.00% and 8.35% and monthly payments ranging from $0.14583330 to $0.17395800.

When is the payment date for the dividends announced by FBP?

The payment date for the dividends is August 2, 2021.

What is the record date for First BanCorp's July 2021 dividends?

The record date for the dividends is July 15, 2021.

What is the significance of First BanCorp's preferred stock dividends?

The preferred stock dividends provide a steady income stream for investors, indicating the company's commitment to shareholder returns.