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SAN JUAN - First BanCorp. (NYSE:FBP), the bank holding company for FirstBank Puerto Rico, announced Monday that its Board of Directors has declared a quarterly cash dividend of $0.18 per share on its outstanding common stock. The dividend represents a 3.26% yield, with the company having raised its dividends for seven consecutive years, according to InvestingPro data.
The dividend will be payable on September 12, 2025, to shareholders of record at the close of business on August 28, 2025, according to a company press release. With a market capitalization of $3.52 billion and trading near its 52-week high, First BanCorp maintains a strong financial health score of "GREAT" on InvestingPro, which offers comprehensive dividend analysis and growth metrics for income-focused investors.
First BanCorp. operates as the parent corporation of FirstBank Puerto Rico, a state-chartered commercial bank with operations in Puerto Rico, the U.S. and British Virgin Islands, and Florida. The company’s subsidiaries include FirstBank Insurance Agency, LLC and First Federal Finance Limited Liability Company, a small loans company.
The bank holding company’s shares trade on the New York Stock Exchange under the symbol FBP.
In other recent news, First Bancorp reported a strong financial performance for the first quarter of 2025. The company exceeded analyst expectations with an earnings per share (EPS) of $0.46, compared to the forecast of $0.43. Revenue also surpassed predictions, reaching $248.13 million against an anticipated $243.08 million. This performance highlights First Bancorp’s ability to effectively navigate market challenges, with net income rising to $77 million. The company’s net interest margin showed significant improvement, contributing to increased profitability.
The firm continues to focus on digital innovation, integrating new payment systems to enhance its service offerings. Analysts from firms such as Piper Sandler and Hovde Group engaged with First Bancorp’s management during the earnings call, discussing topics like loan growth and market uncertainties. Despite some economic uncertainties, First Bancorp maintains its mid-single-digit loan growth target for the year and expects further growth in the latter half of 2025. The company has also resumed its stock purchase program, repurchasing $22 million in the first quarter and planning to complete another $28 million in April.
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