\nPopular, Inc. (the \u201cCorporation\u201d) (NASDAQ: BPOP) announced today the following capital actions:<\/p>\n
- \n
- \nan increase in the Corporation\u2019s quarterly common stock dividend from $0.75 to $0.90 per share, commencing with the dividend payable in the fourth quarter of 2026, subject to the approval of the Corporation\u2019s Board of Directors; and<\/p>\n<\/li>\n<\/ul>\n
- \n
- \na new common stock repurchase authorization of up to $1 billion.<\/p>\n<\/li>\n<\/ul>\n
\nThe Corporation\u2019s planned common stock repurchases may be executed in open market transactions, privately negotiated transactions, block trades or any other manner determined by the Corporation. The Corporation has repurchased approximately $280 million in common stock to date in 2026 and, as of June 30, 2026, had fully utilized the $500 million common stock repurchase authorization approved in 2025. The timing, quantity and price of the Corporation\u2019s common stock repurchases will be subject to various factors, including market conditions, the Corporation\u2019s capital position, liquidity and financial performance, the capital impact of strategic initiatives and tax and regulatory considerations, including regulatory approvals for subsidiary dividends. The common stock repurchase authorization does not require the Corporation to acquire a specific dollar amount or number of shares and may be modified, suspended or terminated at any time without prior notice.<\/p>\n
\n\u201cOur significant excess capital, robust liquidity and strong financial performance enable us to consistently service our clients and communities while continuing to return capital to our shareholders,\u201d said Javier D. Ferrer, President and Chief Executive Officer of the Corporation. \u201cThe intended dividend increase reflects confidence in our capacity to deliver sustainable financial results. The new share repurchase authorization allows us to deploy capital over time to enhance shareholder value.\u201d<\/p>\n
About Popular, Inc.<\/b><\/p>\n
\nPopular, Inc. (NASDAQ: BPOP) is the leading financial institution by both assets and deposits in Puerto Rico and ranks among the top 50 U.S. bank holding companies by assets. Founded in 1893, Banco Popular de Puerto Rico, Popular\u2019s principal subsidiary, provides retail, mortgage and commercial banking services in Puerto Rico and the U.S. and British Virgin Islands, as well as auto and equipment leasing and financing in Puerto Rico. Popular also offers broker-dealer and insurance services in Puerto Rico through specialized subsidiaries. In the mainland United States, Popular provides retail and commercial banking services through its New York-chartered banking subsidiary, Popular Bank, which has branches located in New York, New Jersey and Florida.<\/p>\n
Cautionary Note Regarding Forward-Looking Statements<\/b><\/p>\n
\nThis press release contains \u201cforward-looking statements\u201d within the meaning of the U.S. Private Securities Litigation Reform Act of 1995, including without limitation those regarding Popular\u2019s business, financial condition, results of operations, plans, objectives and future performance. These statements are not guarantees of future performance, are based on management\u2019s current expectations and, by their nature, involve risks, uncertainties, estimates and assumptions. Potential factors, some of which are beyond the Corporation\u2019s control, could cause actual results to differ materially from those expressed in, or implied by, such forward-looking statements. Risks and uncertainties include, without limitation, the effect of competitive and economic factors, and our reaction to those factors, the adequacy of the allowance for loan losses, delinquency trends, market risk and the impact of interest rate changes (including on our cost of deposits), our ability to attract deposits and grow our loan portfolio, capital market conditions, capital adequacy and liquidity, the effect of legal and regulatory proceedings, the receipt of necessary regulatory approvals, including for dividends by the Corporation\u2019s subsidiaries, and the timing of those regulatory approvals, new regulatory requirements or accounting standards on the Corporation\u2019s financial condition and results of operations, the occurrence of unforeseen or catastrophic events, such as extreme weather events, pandemics, man-made disasters or acts of violence or war, as well as actions taken by governmental authorities in response thereto, and the direct and indirect impact of such events on Popular, our customers, service providers and third parties. Other potential factors include Popular\u2019s ability to successfully execute its transformation initiative, including, but not limited to, achieving projected earnings, efficiencies and return on tangible common equity and accurately anticipating costs and expenses associated therewith, our ability to execute capital actions, including with respect to share repurchases and dividends, the imposition of additional or special FDIC assessments, or increases thereto, the occurrence of any cyber-security event, changes to regulatory capital, liquidity and resolution-related requirements applicable to financial institutions, the impact of bank failures or adverse developments at other banks and related negative media coverage of the banking industry in general on investor and depositor sentiment regarding the stability and liquidity of banks, and changes in and uncertainty regarding federal funding, tax and trade policies, and rulemaking, supervision, examination and enforcement priorities of the federal administration. All statements contained herein that are not clearly historical in nature, are forward-looking, and the words \u201canticipate,\u201d \u201cbelieve,\u201d \u201ccontinues,\u201d \u201cexpect,\u201d \u201cestimate,\u201d \u201cintend,\u201d \u201cproject\u201d and similar expressions, and future or conditional verbs such as \u201cwill,\u201d \u201cwould,\u201d \u201cshould,\u201d \u201ccould,\u201d \u201cmight,\u201d \u201ccan,\u201d \u201cmay\u201d or similar expressions, are generally intended to identify forward-looking statements.<\/p>\n
\nMore information on the risks and important factors that could affect the Corporation\u2019s future results and financial condition is included in our Annual Report on Form 10-K for the year ended December 31, 2025, the Quarterly Report on Form 10-Q for the quarter ended March 31, 2026 and the Quarterly Report on Form 10-Q for the quarter ended June 30, 2026 to be filed with the Securities and Exchange Commission. Our filings are available on the Corporation\u2019s website (www.popular.com<\/a>) and on the Securities and Exchange Commission website (www.sec.gov<\/a>). The Corporation assumes no obligation to update or revise any forward-looking statements or information which speak as of their respective dates.<\/p>\n
\nFinancial (English): P-EN-FIN<\/p>\n
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View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20260723422357\/en\/<\/a><\/span><\/p>\n
\nPopular, Inc.
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Investor Relations:
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Paul J. Cardillo, 212-417-6721
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Senior Vice President and Investor Relations Officer
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pcardillo@popular.com<\/a><\/p>\n\nor<\/p>\n
\nMedia Relations:
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Mar\u00eda Cristina Gonz\u00e1lez Noguera, 917-804-5253
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Executive Vice President and Chief Communications & Public Affairs Officer
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mc.gonzalez@popular.com<\/a><\/p>\nKEYWORDS:<\/b> New York Latin America North America United States Puerto Rico Caribbean<\/p>\n
INDUSTRY KEYWORDS:<\/b> Banking Asset Management Professional Services Finance<\/p>\n
- \na new common stock repurchase authorization of up to $1 billion.<\/p>\n<\/li>\n<\/ul>\n
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