First BanCorp (NYSE:FBP), the parent company of FirstBank Puerto Rico, announced an 11% increase in its quarterly cash dividend, raising the payout to $0.20 per share from the $0.18 paid in December 2025.
The move, approved by the Board of Directors, marks a $0.02 per share bump and brings the annualized dividend rate to $0.80 per common share.
The dividend is scheduled to be paid on March 13, 2026, to shareholders of record as of the close of business on February 26, 2026.
Aurelio Alemán, President and CEO of First BanCorp, framed the increase as a reflection of the bank’s financial resilience and its broader strategy to reward investors.
"The dividend increase, together with our share buyback program, underscores our ongoing commitment to execute our strategic priorities, enhancing long-term shareholder value, and sustaining a solid capital position," Alemán said in a statement.
The San Juan-based bank has been navigating a shifting economic landscape in Puerto Rico and the broader Caribbean, focusing on maintaining a robust capital buffer while balancing organic growth with shareholder returns.
The 11% hike serves as a signal to the market that the corporation remains comfortable with its liquidity and earnings trajectory heading into the new fiscal year.