The dividend increase, rising from the current $0.75 per share, is slated to take effect in the fourth quarter of 2026, pending board approval. This financial maneuver follows an active year for the bank, which already utilized a prior $500 million buyback authorization by the end of June and repurchased $280 million in shares throughout the current year. Future repurchase volume remains tethered to market conditions, liquidity, and regulatory oversight.
In section Market Quotes
Popular Inc. Announces $1 Billion Buyback and CEO Succession
A $1 billion share-repurchase program and a quarterly dividend hike to $0.90 per share are coming to Popular Inc., even as the Puerto Rico-based bank prepares for a major leadership shift. Chief Executive Javier Ferrer will step down on August 31, handing the reins to current CFO Jorge García.
Alongside the capital return announcement, the bank detailed a significant executive restructuring. Jorge García, the departing CEO’s successor, will join the board of directors upon his promotion. Lidio Soriano, the current chief risk officer, is set to step into the CFO role, while Luis Sousa moves up to lead the credit risk management division. Chairman Richard Carrión credited Ferrer with driving the bank’s long-term transformation and strategic focus over his decade-long tenure.
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