Popular, Inc. Declares Monthly Cash Dividend
Today, Popular, Inc. (NASDAQ: BPOP) made an important announcement regarding its financial operations. The company declared a cash dividend on its outstanding shares of Non-Cumulative Monthly Income Preferred Stock, showcasing its commitment to returning value to its shareholders.
Details of the Dividend
The declared cash dividend is set at $0.132813 per share for its 6.375% Non-Cumulative Monthly Income Preferred Stock, 2003 Series A. This generous dividend will be payable on December 2, 2024, to those shareholders who hold shares as of November 15, 2024. This strategic move highlights the company’s ongoing financial health and stability.
Trust Preferred Securities Distribution Announcement
In addition to the dividend for its preferred stock, Popular, Inc. also announced a distribution for its outstanding Trust Preferred Securities. This move signifies the company’s strong performance and commitment to its security holders.
Distribution Details
The monthly distribution for the 6.125% Cumulative Monthly Income Trust Preferred Securities issued by Popular Capital Trust II is set at $0.127604 per security. Similar to the preferred stock dividend, this distribution is also slated for payment on December 2, 2024, to security holders of record as of November 15, 2024. Such announcements reinforce investor confidence in the fiscal management of Popular, Inc.
About Popular, Inc.
Founded back in 1893, Popular, Inc. has emerged as the leading financial institution in Puerto Rico, not just by assets but also by deposits. With a robust presence in the financial sector, the company ranks among the top 50 U.S. bank holding companies. Its principal subsidiary, Banco Popular de Puerto Rico, provides a comprehensive range of services, including retail, mortgage, and commercial banking to customers in Puerto Rico and the U.S. Virgin Islands.
Popular, Inc. extends its financial services to the mainland United States through its New York-chartered banking subsidiary, Popular Bank. With branches in New York, New Jersey, and Florida, the bank caters to the diverse banking needs of its customers. Additionally, Popular offers specialized financial services including auto and equipment leasing, investment banking, and broker-dealer operations, further diversifying its portfolio.
Frequently Asked Questions
What is the amount of the declared dividend by Popular, Inc.?
The declared dividend is $0.132813 per share for the 6.375% Non-Cumulative Monthly Income Preferred Stock.
When will the dividend be paid?
The dividend is payable on December 2, 2024, to shareholders on record as of November 15, 2024.
What is the distribution declared for the Trust Preferred Securities?
The distribution for the Trust Preferred Securities is $0.127604 per security.
Who can receive the announced distributions?
Only those holders of record as of November 15, 2024, will be eligible for the distributions on December 2, 2024.
What services does Popular, Inc. provide?
Popular, Inc. offers retail, mortgage, and commercial banking services along with leasing, investment banking, and insurance services through its specialized subsidiaries.
