Popular, Inc. (NASDAQ:BPOP) Declares Dividend Increase – $0.90 Per Share

Popular, Inc. (NASDAQ:BPOP) declared a quarterly dividend on Thursday, August 20th. Shareholders of record on Thursday, September 10th will be paid a dividend of 0.90 per share by the bank on Thursday, October 1st. This represents a c) annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend is Thursday, September 10th. This is a 20.0% increase from Popular’s previous quarterly dividend of $0.75.

Popular has increased its dividend by an average of 0.1%annually over the last three years and has increased its dividend annually for the last 6 consecutive years. Popular has a dividend payout ratio of 24.3% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Popular to earn $17.13 per share next year, which means the company should continue to be able to cover its $3.00 annual dividend with an expected future payout ratio of 17.5%.

Popular Trading Down 1.4%

Shares of Popular stock opened at $168.22 on Friday. Popular has a 12-month low of $108.74 and a 12-month high of $179.24. The company has a market cap of $10.73 billion, a price-to-earnings ratio of 11.37, a PEG ratio of 0.65 and a beta of 0.61. The company’s 50-day moving average price is $169.82 and its 200-day moving average price is $152.40.

Popular (NASDAQ:BPOP) last issued its quarterly earnings data on Thursday, July 23rd. The bank reported $4.35 EPS for the quarter, beating the consensus estimate of $3.72 by $0.63. Popular had a net margin of 21.37% and a return on equity of 15.34%. The company had revenue of $846.92 million during the quarter, compared to analysts’ expectations of $878.41 million. During the same quarter in the previous year, the company earned $3.09 earnings per share. On average, sell-side analysts predict that Popular will post 15.72 earnings per share for the current year.

Popular Company Profile

Popular, Inc, headquartered in San Juan, Puerto Rico, is a financial holding company and a leading provider of banking services in the United States mainland and Puerto Rico. Through its primary subsidiaries—Banco Popular de Puerto Rico and Popular Bank—the company delivers comprehensive commercial and consumer banking solutions. It offers deposit products, lending facilities, cash management services and payment-processing solutions designed for individuals, small businesses and large corporations.

The company’s product suite encompasses checking and savings accounts, certificates of deposit, residential and commercial mortgage loans, business lines of credit and credit cards.