Popular Inc (BPOP) Announces $0.30 Quarterly Dividend

Popular Inc (NASDAQ:BPOP) announced a quarterly dividend on Wednesday, May 8th, Wall Street Journal reports. Stockholders of record on Tuesday, May 28th will be paid a dividend of 0.30 per share by the bank on Monday, July 1st. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.30%. The ex-dividend date is Friday, May 24th.

Popular has increased its dividend by an average of 88.2% per year over the last three years and has raised its dividend every year for the last 3 years. Popular has a dividend payout ratio of 25.5% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Popular to earn $7.10 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 16.9%.

Shares of BPOP stock traded down $0.87 during trading hours on Friday, reaching $52.21. 441,350 shares of the stock traded hands, compared to its average volume of 573,693. The firm has a market capitalization of $5.17 billion, a P/E ratio of 10.95 and a beta of 1.20. Popular has a 1-year low of $44.22 and a 1-year high of $58.99.

Popular (NASDAQ:BPOP) last posted its earnings results on Thursday, April 18th. The bank reported $1.69 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.45 by $0.24. The company had revenue of $607.39 million during the quarter, compared to the consensus estimate of $603.70 million. Popular had a net margin of 24.69% and a return on equity of 10.58%. During the same period in the previous year, the firm posted $0.89 earnings per share. Equities research analysts predict that Popular will post 6.59 EPS for the current fiscal year.

A number of brokerages have recently issued reports on BPOP. BidaskClub cut shares of Popular from a “buy” rating to a “hold” rating in a research note on Saturday, May 18th. Zacks Investment Research upgraded shares of Popular from a “hold” rating to a “strong-buy” rating and set a $64.00 price objective for the company in a research report on Tuesday, April 23rd. Finally, BTIG Research lifted their price objective on shares of Popular to $66.00 and gave the stock a “buy” rating in a research note on Tuesday, April 23rd. Two investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Popular has an average rating of “Buy” and a consensus price target of $59.71.

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About Popular

Popular, Inc, through its subsidiaries, provides various retail, mortgage, and commercial banking products and services. The company accepts various deposit products. It also offers commercial and industrial loans; commercial real estate loans; residential mortgage loans; consumer loans, including personal loans, credit cards, automobile loans, home equity lines of credit, and other loans to individual borrowers; construction loans; and lease financing comprising automobile loans/leases.

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Dividend History for Popular (NASDAQ:BPOP)

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