First BanCorp Announces Capital Actions
Business Wire•21/10/2026•16:30 ET
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Key Highlights
- ➤$350 million stock repurchase program approved through 2027, subject to market conditions
- ➤$0.25 quarterly dividend declared, up 25% from September 2026
- ➤Approximately $38.3 million remains under prior repurchase program
- ➤Dividend payable December 11, 2026, to November 27 record holders
Expert Statements
Aurelio Alemán, President and Chief Executive Officer of First BanCorp.
“We are pleased to announce that our Board of Directors approved a new stock repurchase program and a 25% increase in our quarterly dividend, reflecting the strength of our strong financial performance and disciplined capital management. Our approach will remain opportunistic, with repurchase activity calibrated to market conditions, valuation, and alternative capital deployment opportunities, while targeting capital levels that remain consistent with our long-term operating objectives.”
First BanCorp. (the “Corporation”) (NYSE: FBP), the bank holding company for FirstBank Puerto Rico, announced today that its Board of Directors approved the following capital actions:
* A new stock repurchase program of up to $350 million of the Corporation’s outstanding common stock that we expect to be executed, at management’s discretion, throughout 2027, subject to market conditions; this approval is in addition to the approximately $38.3 million remaining under the stock repurchase program announced on October 22, 2025;
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