Popular, Inc. (NASDAQ:BPOP) Declares Quarterly Dividend of $0.90

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

Popular has increased its dividend payment by an average of 0.1%annually over the last three years and has raised its dividend every year for the last 6 years. Popular has a payout ratio of 24.3% indicating that its dividend is sufficiently covered by earnings. Equities 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 Stock Performance

Popular stock opened at $168.22 on Friday. Popular has a 52-week low of $108.74 and a 52-week high of $179.24. The firm has a 50 day moving average price of $169.82 and a two-hundred day moving average price of $152.40. The firm 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.

Popular (NASDAQ:BPOP) last announced its earnings results 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 return on equity of 15.34% and a net margin of 21.37%.The company had revenue of $846.92 million for the quarter, compared to analyst estimates of $878.41 million. During the same quarter in the prior year, the company earned $3.09 EPS. As a group, equities research analysts predict that Popular will post 15.72 EPS for the current fiscal year.

About Popular

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.