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MarketScreener Homepage  >  Equities  >  Nyse  >  First BanCorp.    FBP   PR3186727065

FIRST BANCORP.

(FBP)
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First Bancorp : Announces Payment of Dividends on Preferred Stock

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02/06/2019 | 04:31pm EDT

First BanCorp. (the “Corporation”) (NYSE: FBP), the bank holding company for FirstBank Puerto Rico, announced today that its Board of Directors has declared the following monthly cash dividends on its outstanding shares of Series A through E Noncumulative Perpetual Monthly Income Preferred Stock (the “Preferred Stock”):

Series  

Monthly
Dividend Per
Share

 

Outstanding
Shares

  Record Date   Payment Date

 

 

A $0.14843750 197,386 February 26, 2019 February 28, 2019
B $0.17395800 296,146 February 15, 2019 February 28, 2019
C $0.15416670 249,852 February 15, 2019 February 28, 2019
D $0.15104167 285,522 February 15, 2019 February 28, 2019
E $0.14583330 415,240 February 15, 2019 February 28, 2019

The Corporation’s ability to continue to declare and pay dividends on the Preferred Stock is dependent on certain Federal regulatory considerations, including the guidelines of the Federal Reserve Board regarding capital adequacy and dividends and on the Corporation’s agreement with the Federal Reserve Bank of New York (the “Federal Reserve”) to obtain regulatory approval to pay dividends to stockholders.

Although there is no assurance that any dividends will be declared on the Corporation’s Preferred Stock in any future periods, the Corporation intends to continue to request the Federal Reserve’s approval to enable it to continue to pay the monthly dividends on its Preferred Stock.

About First BanCorp.

First BanCorp. is the parent corporation of FirstBank Puerto Rico, a state-chartered commercial bank with operations in Puerto Rico, the U.S. and British Virgin Islands and Florida, and of FirstBank Insurance Agency, LLC. Among the subsidiaries of FirstBank Puerto Rico are First Federal Finance Limited Liability Company and First Express, Inc., both small loan companies, and FirstBank Puerto Rico Securities Corp., a broker-dealer subsidiary. First BanCorp’s shares of common stock trade on the New York Stock Exchange under the symbol “FBP.”

Safe Harbor

This press release may contain “forward-looking statements” concerning the Corporation. The words or phrases “expect,” “anticipate,” “intend,” “look forward,” “should,” “would,” “believes” and similar expressions are meant to identify “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and are subject to the safe harbor created by such sections. Such forward-looking statements include, but are not limited to, statements regarding the Corporation’s ability to declare dividends on the Corporation’s Preferred Stock in any future periods and the Corporation’s intention to request the Federal Reserve’s approval to enable it to continue to pay the monthly dividends on its Preferred Stock once regulatory approvals expire. Such statements are subject to known and unknown risks, uncertainties and contingencies that may cause actual results to differ materially from the expectations, intentions, beliefs, plans, estimates or predictions of the future expressed or implied by such forward-looking statements. These risks, uncertainties and contingencies include, but are not limited to the factors described in the Corporation’s Annual Report on Form 10-K, in its Quarterly Reports on Form 10-Q and in other filings with the SEC. The Corporation does not undertake, and specifically disclaims any obligation, to update any “forward-looking statements” to reflect occurrences or unanticipated events or circumstances after the date of such statements, except as required by the federal securities laws.


© Business Wire 2019
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Financials (USD)
Sales 2020 703 M - -
Net income 2020 82,1 M - -
Net Debt 2020 - - -
P/E ratio 2020 13,5x
Yield 2020 3,78%
Capitalization 1 147 M 1 147 M -
EV / Sales 2019
Capi. / Sales 2020 1,63x
Nbr of Employees 2 674
Free-Float 87,5%
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Mean consensus BUY
Number of Analysts 5
Average target price 8,80 $
Last Close Price 5,29 $
Spread / Highest target 89,0%
Spread / Average Target 66,4%
Spread / Lowest Target 32,3%
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Managers
NameTitle
Aurelio Alemán-Bermúdez President, Chief Executive Officer & Director
Roberto R. Herencia Non-Executive Chairman
Donald L. Kafka Chief Operating Officer & Executive Vice President
Orlando Berges-González Executive VP, Chief Financial & Accounting Officer
José A. Menéndez-Cortada Independent Director
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