Boosting shareholder returns with a higher dividend

  • First BanCorp Puerto Rico raises dividend by 14%
  • New dividend of 16 cents per share
  • Dividend payable on March 8 to shareholders of record on February 23
  • Dividend yield of about 3.8%

First BanCorp Puerto Rico announced a 14% increase in its quarterly cash dividend. The new dividend of 16 cents per share, up from 14 cents, will be paid on March 8 to shareholders of record as of February 23. With an annual dividend of 64 cents per share, this represents a dividend yield of approximately 3.8% based on the closing price of $16.49 per share. This marks the second dividend increase by the company, following a raise from 12 cents to 14 cents per share in February 2023. First BanCorp is the bank holding company for FirstBank Puerto Rico.

Public Companies: First BanCorp (N/A)
Private Companies: FirstBank Puerto Rico
Key People:

Factuality Level: 10
Justification: The article provides factual information about First BanCorp’s board approving a 14% increase in the company’s quarterly cash dividend. It includes details about the new dividend amount, the payment date, and the dividend yield. The article also mentions the previous dividend increase in February 2023. There are no digressions, misleading information, sensationalism, redundancy, or opinion masquerading as fact. The reporting is accurate and objective, without any bias or personal perspective. The article does not contain any invalid arguments, logical errors, inconsistencies, fallacies, faulty reasoning, false assumptions, or incorrect conclusions. Overall, the article is factually sound.

Noise Level: 8
Justification: The article provides basic information about First BanCorp’s dividend increase, but it lacks depth and analysis. It does not explore the long-term trends or consequences of the decision. The article also does not provide any evidence, data, or examples to support its claims. Overall, it is a short and straightforward news piece without much substance.

Financial Relevance: Yes
Financial Markets Impacted: First BanCorp, FirstBank Puerto Rico

Presence of Extreme Event: No
Nature of Extreme Event: No
Impact Rating of the Extreme Event: No
Justification: The article pertains to financial topics as it discusses First BanCorp’s increase in quarterly cash dividend. There is no mention of any extreme event.

Reported publicly: www.marketwatch.com