OFG Bancorp Increases Regular Quarterly Common Stock Cash Dividend by 14%

Rhea-AI Summary

OFG Bancorp (NYSE: OFG) has announced a 14.3% increase in its regular quarterly cash dividend, raising it from $0.07 to $0.08 per common share, effective for the quarter ending March 31, 2021. The dividend will be payable on April 15, 2021, to shareholders on record as of March 31, 2021, with an ex-dividend date of March 30, 2021. CEO Jose Rafael Fernandez attributed this increase to the company’s earnings and capital growth, demonstrating resilience despite the challenges posed by COVID-19.

Positive

• 14.3% increase in quarterly cash dividend from $0.07 to $0.08 per share.
• Demonstrates earnings and capital growth amid COVID-19.

Negative

• None.

OFG Bancorp (NYSE: OFG) today announced its Board of Directors increased the regular quarterly cash dividend by 14.3%, to $0.08 per common share, from $0.07 per share, for the quarter ending March 31, 2021. The dividend is payable April 15, 2021, to holders of record at March 31, 2021, with an ex-dividend date of March 30, 2021.

Jose Rafael Fernandez, President, Chief Executive officer, and Vice Chairman of the Board, said: “The dividend increase reflects earnings and capital growth, despite COVID-19, from OFG’s larger scale and stronger business activity.”

About OFG Bancorp

Now in its 57^th year in business, OFG Bancorp is a diversified financial holding company that operates under U.S., Puerto Rico and U.S. Virgin Islands banking laws and regulations. Its three principal subsidiaries, Oriental Bank, Oriental Financial Services and Oriental Insurance, provide a wide range of retail and commercial banking, lending and wealth management products, services and technology, primarily in Puerto Rico and U.S. Virgin Islands. Visit us at www.ofgbancorp.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210127005772/en/

FAQ

What is the new dividend amount for OFG Bancorp?

The new quarterly dividend amount for OFG Bancorp is $0.08 per common share.

When will the dividend for OFG Bancorp be paid?

The dividend will be payable on April 15, 2021.

What is the ex-dividend date for OFG Bancorp's latest dividend?

The ex-dividend date is March 30, 2021.

How much did OFG Bancorp increase its dividend by?

OFG Bancorp increased its dividend by 14.3%.