First BanCorp's Dividend Boost: A Win for Shareholders

First BanCorp (NYSE: FBP) has announced a 13% increase in its quarterly cash dividend, raising it to $0.18 per share. This move, effective as of March 7, 2025, for shareholders of record as of February 21, 2025, is a clear indication of the company's strong financial health and commitment to maximizing shareholder value. The increased quarterly dividend level equates to an annualized dividend rate of $0.72 per common share.



First BanCorp's decision to increase its dividend is supported by several factors, including its strong capital position, consistent long-term performance, and positive future outlook. The company's tangible book value per share of $19.12, up $1.19 per share from a year ago, demonstrates its robust financial foundation. Additionally, First BanCorp's Pre-Tax, Pre-Provision (PTPP) Return on Average Assets of 1.29% and PTPP Return on Average Tangible Common Equity of 18.11% in 2023 further underscore the company's strong financial performance.

The dividend increase, combined with First BanCorp's share buyback program, underscores the company's commitment to maximizing shareholder value. This strategic move is supported by the company's consistent long-term performance and positive future outlook. Aurelio Alemán, President and CEO of the Corporation, stated, "We are pleased to announce another increase to our common stock dividend... This, combined with our share buyback program, underscores our unwavering commitment to maximizing shareholder value."

First BanCorp's commitment to maximizing shareholder value is a significant factor for investors. By consistently increasing dividends and engaging in share buyback programs, the company demonstrates its confidence in its future performance and dedication to returning value to shareholders. This commitment can boost investor confidence, attract new shareholders, and ultimately lead to increased stock prices and market capitalization.

In conclusion, First BanCorp's decision to increase its quarterly cash dividend by 13% is a clear indication of the company's strong financial health and commitment to maximizing shareholder value. This move, supported by the company's robust financial performance and positive future outlook, is a win for shareholders and a testament to First BanCorp's dedication to delivering value to its stakeholders.