Welcome to our dedicated page for Popular news (Ticker: BPOP), a resource for investors and traders seeking the latest updates and insights on Popular stock.
Popular, Inc. reports developments as a Puerto Rico-based financial holding company whose principal banking subsidiary is Banco Popular de Puerto Rico. The company provides retail, mortgage and commercial banking in Puerto Rico and the U.S. and British Virgin Islands, auto and equipment leasing and financing in Puerto Rico, and broker-dealer and insurance services through specialized subsidiaries.
Recurring BPOP news includes quarterly financial results, loan and credit quality trends, common stock dividends, preferred stock dividends, trust preferred securities distributions, executive leadership changes and investor conference participation. Updates also cover Popular Bank, the company’s New York-chartered mainland U.S. banking subsidiary with branches in New York, New Jersey and Florida.
Popular, Inc. (NASDAQ: BPOP) has appointed Javier D. Ferrer as Chief Operating Officer and Head of Business Strategy, effective January 1, 2022. Ferrer will oversee all business units, aiming to enhance Popular's competitive edge and meet evolving customer needs. Previously serving as Executive Vice President and Chief Legal Officer since 2014, Ferrer brings extensive experience. José R. Coleman Tió is appointed as the new Chief Legal Officer, succeeding Ferrer. This leadership change is expected to deepen the company's business transformation amidst a strong financial position.
Popular, Inc. (NASDAQ:BPOP) reported a net income of $248.1 million for Q3 2021, up from $218.1 million in Q2 2021, attributed to a $61 million reserve release due to improved credit quality and economic outlook. Net interest margin decreased to 2.77% from 2.91%, but net interest income rose to $489.4 million. Non-performing loans decreased by $52.3 million, with a ratio of 2.2% of loans. The company completed a $350 million accelerated share repurchase and a $159 million acquisition of K2 Capital Group.
Popular, Inc. (NASDAQ: BPOP) has declared a monthly cash dividend of $0.132813 per share for its 6.375% Non-Cumulative Monthly Income Preferred Stock, 2003 Series A, payable on November 1, 2021, to holders of record as of October 15, 2021. Additionally, it announced a distribution of $0.127604 per security for its 6.125% Cumulative Monthly Income Trust Preferred Securities, also payable on November 1, 2021. These distributions reflect the company’s commitment to returning value to shareholders.
Popular, Inc. (NASDAQ:BPOP) announced its plans to report third-quarter financial results for the period ending September 30, 2021. The announcement will be made before the market opens on October 20, 2021.
A conference call to discuss the results will occur at 11:00 a.m. Eastern Time on the same day, accessible via the company’s website. A replay will be available until November 17, 2021, via phone and on the website.
Popular, Inc. (NASDAQ: BPOP) announced a redemption notice for all outstanding 6.70% Cumulative Monthly Income Trust Preferred Securities on November 1, 2021. The total amount for redemption is approximately $186.7 million, with a payment of $25.139583 per security. Following this redemption, Popular plans to delist the Popular Capital Trust I (NASDAQ: BPOPN) from the Nasdaq Global Select Market. Holders will receive payments automatically through The Depository Trust Corporation (DTC) without action required on their part.
Popular, Inc. (NASDAQ: BPOP) has declared a monthly cash dividend of $0.132813 for its 6.375% Non-Cumulative Monthly Income Preferred Stock, 2003 Series A, payable on September 30, 2021. Holders of record as of September 15, 2021 are eligible. Additionally, the company announced monthly distributions for its Trust Preferred Securities: $0.139583 for 6.700% Cumulative Trust Preferred Securities (BPOPN) and $0.127604 for 6.125% Cumulative Trust Preferred Securities (BPOPM), both payable on October 1, 2021.
Popular, Inc. (NASDAQ: BPOP) announced a quarterly cash dividend of $0.45 per share on its common stock, payable on October 1, 2021. Shareholders must be on record by the close of business on September 10, 2021. Popular, Inc. is a leading financial institution in Puerto Rico, noted for its comprehensive banking services including retail, mortgage, and commercial banking, as well as auto leasing and investment services. The company ranks among the top 50 U.S. bank holding companies by assets.
Popular, Inc. (NASDAQ: BPOP) has declared a monthly cash dividend of $0.132813 per share for its 6.375% Non-Cumulative Monthly Income Preferred Stock, 2003 Series A, payable on August 31, 2021, to shareholders on record as of August 15, 2021.
Additionally, it announced monthly distributions of $0.139583 per security for 6.700% Cumulative Monthly Income Trust Preferred Securities, and $0.127604 for 6.125% Cumulative Monthly Income Trust Preferred Securities, both payable on September 1, 2021.
Popular, Inc. (NASDAQ: BPOP) will participate in the UBS Financial Services Virtual Conference on August 11, 2021. Carlos J. Vázquez, Executive Vice President and CFO, is scheduled to speak at 3:00 p.m. Eastern Time. A live audio webcast will be available on the Popular, Inc. Investor Relations website, with a replay accessible after the event. Popular, Inc. is a leading financial institution in Puerto Rico and ranks among the top 50 U.S. bank holding companies.
Popular, Inc. (NASDAQ:BPOP) reported net income of $218.1 million for Q2 2021, down from $262.6 million in Q1 2021. Despite this decline, the company highlighted increased consumer spending in Puerto Rico and a $5.9 billion growth in deposit balances. Capital actions include a $350 million accelerated share repurchase and a dividend increase from $0.40 to $0.45 per share. Credit quality remains strong, with a decrease in non-performing loans and a favorable economic outlook.