First BanCorp. Announces Payment of Dividends on Preferred Stock

Rhea-AI Summary

First BanCorp. (NYSE: FBP) has declared monthly cash dividends on its Series A through E Noncumulative Perpetual Monthly Income Preferred Stock. The dividends include Series A at $0.14843750 with a 7.125% annual rate, Series B at $0.17395800 with an 8.35% rate, Series C at $0.15416670 with a 7.40% rate, Series D at $0.15104167 with a 7.25% rate, and Series E at $0.14583330 with a 7.00% rate. The record date for these dividends is on October 15, 2021, with payment set for November 1, 2021.

Positive

• Monthly dividend declaration signifies company stability and commitment to shareholder returns.
• Diverse series of preferred stocks provide various investment options for shareholders.

Negative

• None.

SAN JUAN, Puerto Rico--(BUSINESS WIRE)-- 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)		(b)		(c)
A		7.125%		$0.14843750		197,386		October 28, 2021		November 1, 2021
B		8.35%		$0.17395800		296,146		October 15, 2021		November 1, 2021
C		7.40%		$0.15416670		249,852		October 15, 2021		November 1, 2021
D		7.25%		$0.15104167		285,522		October 15, 2021		November 1, 2021
E		7.00%		$0.14583330		415,240		October 15, 2021		November 1, 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211001005673/en/

First BanCorp.

Orlando Berges

Chief Financial Officer

787-729-8170

orlando.berges@firstbankpr.com

Source: First BanCorp.

FAQ

What are the current dividends declared by First BanCorp. for preferred stock FBP?

First BanCorp. has declared monthly dividends for preferred stock series A at $0.14843750, series B at $0.17395800, series C at $0.15416670, series D at $0.15104167, and series E at $0.14583330.

When is the record date for First BanCorp.'s preferred stock dividends?

The record date for First BanCorp.'s preferred stock dividends is October 15, 2021.

When will First BanCorp. pay the declared dividends?

The declared dividends will be paid on November 1, 2021.