First BanCorp. Announces Payment of Dividends on Preferred Stock

Rhea-AI Summary

First BanCorp. (NYSE: FBP) has announced the declaration of monthly cash dividends on its Series A through E Noncumulative Perpetual Monthly Income Preferred Stock. The dividends are as follows:

• Series A: 7.125% annual dividend rate; $0.14843750 monthly dividend per share.
• Series B: 8.35% annual dividend rate; $0.17395800 monthly dividend per share.
• Series C: 7.40% annual dividend rate; $0.15416670 monthly dividend per share.
• Series D: 7.25% annual dividend rate; $0.15104167 monthly dividend per share.
• Series E: 7.00% annual dividend rate; $0.14583330 monthly dividend per share.

Record dates range from April 15 to April 28, 2021, with payment dates set for April 30, 2021.

Positive

• Monthly dividends declared on Series A-E Preferred Stock, providing a steady income stream to shareholders.
• Dividend rates ranging from 7.00% to 8.35%, reflecting strong financial returns for preferred stockholders.

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		April 28, 2021		April 30, 2021
B		8.35%		$0.17395800		296,146		April 15, 2021		April 30, 2021
C		7.40%		$0.15416670		249,852		April 15, 2021		April 30, 2021
D		7.25%		$0.15104167		285,522		April 15, 2021		April 30, 2021
E		7.00%		$0.14583330		415,240		April 15, 2021		April 30, 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/20210401005799/en/

FAQ

What are the monthly dividends for First BanCorp's Series A Preferred Stock?

The monthly dividend for Series A is $0.14843750.

What is the record date for the dividends declared by First BanCorp?

The record dates for the dividends range from April 15 to April 28, 2021.

When are the dividend payments scheduled for First BanCorp?

The dividend payments are scheduled for April 30, 2021.

What is the annual dividend rate for First BanCorp's Series B Preferred Stock?

The annual dividend rate for Series B is 8.35%.

How many shares are outstanding for First BanCorp's Series E Preferred Stock?

There are 415,240 outstanding shares for Series E Preferred Stock.