# First BanCorp. Raises Dividend 25%, Approves Buyback Program of Up to $350 Million

By John Kim

Canonical URL: https://www.tokenpost.com/news/business/38247
Published: 2026-10-22T19:14:07.000Z
Updated: 2026-10-22T19:14:07.000Z
Section: Business

> The $0.25 quarterly dividend is payable Dec. 11 to shareholders of record Nov. 27. Management expects to carry out the repurchase program during 2027.

First BanCorp., the parent company of FirstBank Puerto Rico, raised its quarterly dividend by 25% to $0.25 per common share and authorized up to $350 million for repurchases, expanding its planned return of capital to shareholders.

The board declared the dividend Oct. 21, 2026. The new payout is up from the $0.20 per share paid in September. Shareholders of record at the close of business Nov. 27 will receive the payment Dec. 11.

Management expects to carry out repurchases during 2027 at its discretion and subject to market conditions. About $38.3 million remained under the previous repurchase program.

“We are pleased to announce that our Board of Directors approved a new stock repurchase program and a 25% increase in our quarterly dividend,” President and CEO Aurelio Alemán said.

First BanCorp. shares trade on the New York Stock Exchange under the ticker FBP.