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Home>First BanCorp. Announces Payment of Dividends on Preferred Stock

First BanCorp. Announces Payment of Dividends on Preferred Stock

First BanCorp. Announces Payment of Dividends on Preferred Stock

10/07/2017

First BanCorp. Announces Payment of Dividends on Preferred Stock

First BanCorp. (the “Corporation”) (NYSE: FBP), the bank holding company for FirstBank Puerto Rico, announced today that its Board of Directors has declared the following monthly cash dividends on its outstanding shares of Series A through E Noncumulative Perpetual Monthly Income Preferred Stock (the “Preferred Stock”):

               
Series

Monthly
Dividend Per
Share

Outstanding
Shares

Record Date

Payment Date
A $ 0.14843750 197,386 October 27, 2017 October 31,2017
B $ 0.17395800 296,146 October 15, 2017 October 31,2017
C $ 0.15416670 249,852 October 15, 2017 October 31,2017
D $ 0.15104167 285,522 October 15, 2017 October 31,2017
E $ 0.14583330 415,240 October 15, 2017 October 31,2017
 

The Corporation’s ability to continue to declare and pay dividends on the Preferred Stock is dependent on certain Federal regulatory considerations, including the guidelines of the Federal Reserve Board regarding capital adequacy and dividends and on the Corporation’s agreement with the Federal Reserve Bank of New York (the “Federal Reserve”) to obtain regulatory approval to pay dividends to stockholders.

Although there is no assurance that any dividends will be declared on the Corporation’s Preferred Stock in any future periods, the Corporation intends to continue to request the Federal Reserve’s approval to enable it to continue to pay the monthly dividends on its Preferred Stock.

About First BanCorp.

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