Popular, Inc. (NASDAQ:BPOP) Declares Dividend Increase – $0.75 Per Share

Popular, Inc. (NASDAQ:BPOP) announced a quarterly dividend on Friday, August 22nd, RTT News reports. Investors of record on Friday, September 12th will be given a dividend of 0.75 per share by the bank on Wednesday, October 1st. This represents a c) dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend is Friday, September 12th. This is a 7.1% increase from Popular’s previous quarterly dividend of $0.70.

Popular has a dividend payout ratio of 22.7% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Popular to earn $11.73 per share next year, which means the company should continue to be able to cover its $2.80 annual dividend with an expected future payout ratio of 23.9%.

Popular Stock Performance

BPOP stock opened at $124.18 on Wednesday. Popular has a 1 year low of $78.23 and a 1 year high of $128.66. The stock’s 50 day moving average price is $117.76 and its 200 day moving average price is $104.24. The firm has a market cap of $8.39 billion, a P/E ratio of 12.03, a PEG ratio of 0.65 and a beta of 0.68.

Popular (NASDAQ:BPOP) last posted its earnings results on Wednesday, July 23rd. The bank reported $3.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.60 by $0.49. Popular had a return on equity of 12.48% and a net margin of 16.49%.The firm had revenue of $800.03 million for the quarter, compared to analyst estimates of $777.38 million. During the same quarter in the prior year, the company earned $2.46 EPS. On average, research analysts predict that Popular will post 10.06 earnings per share for the current year.

Popular Company Profile

Popular, Inc, through its subsidiaries, provides various retail, mortgage, and commercial banking products and services in Puerto Rico, the United States, and the British Virgin Islands. The company provides savings, NOW, money market, and other interest-bearing demand accounts; non-interest bearing demand deposits; and certificates of deposit.