OFG Bancorp Increases Regular Quarterly Common Stock Cash Dividend by 10%

Rhea-AI Summary

OFG Bancorp (NYSE: OFG) announced a 10% increase in its quarterly cash dividend, raising it from $0.20 to $0.22 per common share for the quarter ending March 31, 2023. This dividend increase represents the company's commitment to returning capital to shareholders. The dividend payment date is set for April 17, 2023, with an ex-dividend date of March 30, 2023, and it will be payable to holders of record as of March 31, 2023. This strategic move is part of OFG's capital actions for 2023.

Positive

• Dividend increased by 10% from $0.20 to $0.22 per share.
• Demonstrates company confidence in financial stability and growth.

Negative

• None.

SAN JUAN, Puerto Rico--(BUSINESS WIRE)-- OFG Bancorp (NYSE: OFG) today announced its Board of Directors increased the regular quarterly cash dividend by 10%, to $0.22 per common share from $0.20 per share, for the quarter ending March 31, 2023, as part of OFG’s capital actions in 2023. The dividend is payable April 17, 2023, to holders of record at March 31, 2023, with an ex-dividend date of March 30, 2023.

About OFG Bancorp

Now in its 59th 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/20230125005573/en/

Puerto Rico & USVI: Idalis Montalvo (idalis.montalvo@orientalbank.com) at (787) 777-2847

US: Gary Fishman (gfishman@ofgbancorp.com) and Steven Anreder (sanreder@ofgbancorp.com) at (212) 532-3232

Source: OFG Bancorp

FAQ

What is the new dividend amount for OFG Bancorp in 2023?

The new dividend amount is $0.22 per share.

When will OFG Bancorp's dividend be paid?

The dividend will be paid on April 17, 2023.

What is the ex-dividend date for OFG Bancorp's 2023 dividend?

The ex-dividend date is March 30, 2023.

What date is the record for shareholders to receive the dividend?

The record date is March 31, 2023.

How much was the previous dividend amount before the increase?

The previous dividend amount was $0.20 per share.