First Bancorp. Announces Payment of Dividends on Preferred Stock

Rhea-AI Summary

First BanCorp. (NYSE: FBP) has declared monthly cash dividends for its Series A through E Noncumulative Perpetual Monthly Income Preferred Stock. The dividends include: Series A at 7.125% ($0.14843750), Series B at 8.35% ($0.17395800), Series C at 7.40% ($0.15416670), Series D at 7.25% ($0.15104167), and Series E at 7.00% ($0.14583330). Record dates are between March 15 and March 29, 2021, with payment dates set for March 31, 2021. This announcement highlights the Corporation's commitment to returning value to shareholders.

Positive

• Monthly dividends declared on preferred stock signify strong shareholder returns.
• The steady dividends range from 7.00% to 8.35%, demonstrating financial stability.

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		March 29, 2021		March 31, 2021
B		8.35%		$0.17395800		296,146		March 15, 2021		March 31, 2021
C		7.40%		$0.15416670		249,852		March 15, 2021		March 31, 2021
D		7.25%		$0.15104167		285,522		March 15, 2021		March 31, 2021
E		7.00%		$0.14583330		415,240		March 15, 2021		March 31, 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 monthly dividends declared by First BanCorp (FBP)?

First BanCorp declared monthly dividends on preferred stock with Series A at 7.125%, Series B at 8.35%, Series C at 7.40%, Series D at 7.25%, and Series E at 7.00%.

When will the dividends for FBP preferred stock be paid?

The payment date for all declared dividends is March 31, 2021.

What is the record date for FBP's preferred stock dividends?

The record dates vary between March 15 and March 29, 2021, depending on the series.

How does First BanCorp (FBP) ensure dividend sustainability?

First BanCorp's dividend payments are subject to its financial performance and plans, reflecting its commitment to returning value to shareholders.