First BanCorp. Board Approves Stock Repurchase Program

(RTTNews) - First BanCorp. (FBP), the bank holding company for FirstBank Puerto Rico, announced that its Board of Directors approved a new stock repurchase program of up to $225 million of the outstanding common stock. The Corporation expects to repurchase during the second half of 2023 approximately $150 million of the outstanding common stock, of which $75 million relate to the remaining amount of the previously approved stock repurchase program that was resumed in July 2023.

The Board of Directors declared a quarterly cash dividend of $0.14 per share on its outstanding common stock. The dividend is payable on September 8, 2023 to shareholders of record at the close of business on August 24, 2023.