Popular, Inc. (NASDAQ:BPOP) to Issue Quarterly Dividend of $0.75

Popular, Inc. (NASDAQ:BPOP – Get Free Report) declared a quarterly dividend on Friday, May 8th. Stockholders of record on Friday, May 29th will be given a dividend of 0.75 per share by the bank on Wednesday, July 1st. This represents a c) annualized dividend and a dividend yield of 2.0%. The ex-dividend date is Friday, May 29th.

Popular has raised its dividend payment by an average of 0.1%per year over the last three years and has increased its dividend every year for the last 6 years. Popular has a dividend payout ratio of 24.3% meaning its dividend is sufficiently covered by earnings. Analysts expect Popular to earn $16.51 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 18.2%.

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Popular Stock Up 1.1%

NASDAQ:BPOP opened at $152.12 on Wednesday. Popular has a 12-month low of $102.00 and a 12-month high of $152.97. The firm has a market capitalization of $9.82 billion, a P/E ratio of 11.23, a P/E/G ratio of 0.75 and a beta of 0.63. The stock’s fifty day simple moving average is $142.81 and its 200-day simple moving average is $132.93.

Popular (NASDAQ:BPOP – Get Free Report) last posted its quarterly earnings results on Thursday, April 23rd. The bank reported $3.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.30 by $0.48. Popular had a return on equity of 14.53% and a net margin of 20.10%.The business had revenue of $816.08 million for the quarter, compared to analyst estimates of $866.54 million. During the same period last year, the company earned $2.56 EPS. As a group, equities research analysts expect that Popular will post 15.14 earnings per share for the current year.

About Popular

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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.

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