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First BanCorp reinstates quarterly cash dividend

By on November 14, 2018

SAN JUAN – First BanCorp., the bank holding company for FirstBank Puerto Rico, announced Wednesday that its board has declared a quarterly cash dividend of $0.03 per share on its outstanding common stock.

The dividend will be payable on Dec. 14 to shareholders of record at the close of business on Nov. 30.

“We are pleased to reinstate a quarterly cash dividend, which is a reflection of our confidence in the Corporation’s financial and capital strength,” said Aurelio Alemán, First BanCorp’s president and CEO. “We believe that the considerable achievements we’ve made over the past several years have allowed us to create value for our shareholders, significantly improving the Corporation’s capital and risk profile while returning the Corporation to a sustainable and profitable business model, even in a challenging economic environment.”

FirstBank has operations in Puerto Rico, the U.S. and British Virgin Islands and Florida. First BanCorp. is the holding company of FirstBank Insurance Agency LLC as well. Among the subsidiaries of FirstBank Puerto Rico are First Federal Finance Limited Liability Co., a small loan company, and FirstBank Puerto Rico Securities Corp., a broker-dealer subsidiary. First BanCorp’s shares of common stock trade on the New York Stock Exchange under the symbol “FBP.”  

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