OFG Bancorp Announces New $200 Million Share Repurchase Plan
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buybacks
Key Terms
stock repurchase authorization planfinancial
A stock repurchase authorization plan is board-approved permission for a company to buy back its own shares from the market over a set period, similar to a homeowner deciding to reduce the number of renters in a house. It matters to investors because buybacks reduce the number of shares outstanding, which can raise each remaining share’s claim on profits and often signals management prefers returning cash to owners rather than spending it elsewhere, affecting share price and yield.
SAN JUAN, Puerto Rico--(BUSINESS WIRE)--
OFG Bancorp (NYSE: OFG) today announced its Board of Directors approved a new $200 million stock repurchase authorization plan as part of OFG’s capital actions. The new plan, which is open-ended, is in addition to the previously authorized stock repurchase plan, which as of December 31, 2025 had $38.1 million available for repurchase.
Now in its 62nd year in business, OFG Bancorp is a diversified financial holding company that operates under U.S., Puerto Rico and U.S. Virgin Islands banking laws and regulations. Its three principal subsidiaries, Oriental Bank, Oriental Financial Services and Oriental Insurance, provide a wide range of retail and commercial banking, lending and wealth management products, services, and technology, primarily in Puerto Rico and U.S. Virgin Islands. Our mission is to make progress possible for our customers, employees, shareholders, and the communities we serve. Visit us at www.ofgbancorp.com.
