OFG Bancorp Increases Regular Quarterly Common Stock Cash Dividend by 25%

Rhea-AI Summary

OFG Bancorp announced a 25% increase in its quarterly cash dividend, raising it from $0.12 to $0.15 per common share for the quarter ending March 31, 2022. The dividend is set to be paid on April 18, 2022, to shareholders recorded by March 31, 2022, with an ex-dividend date of March 30, 2022. This increase reflects OFG’s strategic capital actions for 2022.

Positive

• Increased dividend from $0.12 to $0.15 per share, reflecting a 25% rise.
• Dividend payment indicates financial health and shareholder value enhancement.

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 25%, to $0.15 per common share from $0.12 per share, for the quarter ending March 31, 2022, as part of OFG’s capital actions in 2022. The dividend is payable April 18, 2022, to holders of record at March 31, 2022, with an ex-dividend date of March 30, 2022.

About OFG Bancorp

Now in its 58^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/20220126005826/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 2022?

The new dividend amount for OFG Bancorp is $0.15 per share.

When will the dividend be paid to shareholders of OFG Bancorp?

The dividend will be paid on April 18, 2022.

What was the previous dividend amount before the increase for OFG Bancorp?

The previous dividend amount was $0.12 per share.

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

The ex-dividend date is March 30, 2022.

What does a 25% increase in dividend mean for OFG Bancorp shareholders?

A 25% increase in dividend suggests improving financial conditions and a commitment to returning value to shareholders.