First BanCorp (NYSE:FBP) announced today that its Board of Directors has
declared the next payment of dividends on First BanCorp’s Series A
through E Preferred and Trust Preferred I & II Shares.
The estimated dividend amounts per share, record dates and payment dates
for the Series A through E Preferred Shares are:
|
Series
|
|
$ Per share
|
|
Record Date
|
|
Payment Date
|
|
A
|
|
0.1484375
|
|
March 27, 2009
|
|
March 31, 2009
|
|
B
|
|
0.17395833
|
|
March 15, 2009
|
|
March 31, 2009
|
|
C
|
|
0.1541666
|
|
March 15, 2009
|
|
March 31, 2009
|
|
D
|
|
0.15104166
|
|
March 15, 2009
|
|
March 31, 2009
|
|
E
|
|
0.14583333
|
|
March 15, 2009
|
|
March 31, 2009
|
About First BanCorp
First BanCorp is the parent corporation of FirstBank Puerto Rico, a
state-chartered commercial bank with operations in Puerto Rico, the
Virgin Islands and Florida; of FirstBank Insurance Agency; and of Ponce
General Corporation. First BanCorp, FirstBank Puerto Rico and FirstBank
Florida, the thrift subsidiary of Ponce General, all operate within U.S.
banking laws and regulations. The Corporation operates a total of 201
branches, stand-alone offices and in-branch service centers throughout
Puerto Rico, the U.S. and British Virgin Islands, and Florida. Among the
subsidiaries of FirstBank Puerto Rico are Money Express, a finance
company; First Leasing and Car Rental, a car and truck rental leasing
company; and FirstMortgage, a mortgage origination company. In the U.S.
Virgin Islands, FirstBank operates First Insurance VI, an insurance
agency, and First Express, a small loan company. First BanCorp's common
and publicly-held preferred shares trade on the New York Stock Exchange
under the symbols FBP, FBPPrA, FBPPrB, FBPPrC, FBPPrD and FBPPrE.
Additional information about First BanCorp may be found at www.firstbankpr.com.
Safe Harbor
This press release may contain "forward-looking statements" concerning
the Corporation's future economic performance. The words or phrases
"expect," "anticipate," "look forward," "should," "believes" and similar
expressions are meant to identify "forward-looking statements" within
the meaning of Section 27A of the Private Securities Litigation Reform
Act of 1995, and are subject to the safe harbor created by such section.
The Corporation wishes to caution readers not to place undue reliance on
any such "forward-looking statements," which speak only as of the date
made, and to advise readers that various factors, including, but not
limited to, the risks arising from credit and other risks of the
Corporation's lending and investment activities, including the
Corporation’s condo-conversion loans from its Miami Corporate Banking
operations and the construction and commercial loan portfolio in Puerto
Rico, which may affect, among other things, the level of non-performing
assets, charge-offs and loan loss provision; an adverse change in the
Corporation's ability to attract new clients and retain existing ones;
decreased demand for our products and services and lower revenue and
earnings because of a recession in the United States, a continued
recession in Puerto Rico and current fiscal problems and budget deficit
of the Puerto Rico government; changes in general economic conditions in
the United States and Puerto Rico, including the interest rate
environment, market liquidity, market rates and prices, and disruptions
in the U.S. capital markets which may reduce interest margins, impact
funding sources and affect demand for the Corporation’s products and
services and the value of the Corporation’s assets, including the value
of the interest rate swaps that economically hedge the interest rate
risk mainly relating to brokered certificates of deposit and medium term
notes as well as other derivative instruments used for protection from
interest rate fluctuations; uncertainty about specific measures that
could be adopted by the Puerto Rico government in response to its fiscal
situation and the impact of those measures in several sectors of Puerto
Rico’s economy; uncertainty about the effectiveness and impact of the
U.S. government’s rescue plan, including the bailout of U.S.
government-sponsored housing agencies, on the financial markets in
general and on the Corporation’s business, financial condition and
results of operations; changes in the fiscal and monetary policies and
regulations of the federal government, including those determined by the
Federal Reserve System (FED), the Federal Deposit Insurance Corporation
(FDIC), government-sponsored housing agencies and local regulators in
Puerto Rico and the U.S. and British Virgin Islands; risks associated
with the soundness of other financial institutions; risks of not being
able to recover all assets pledged to Lehman Brothers Special Financing,
Inc.; changes in the Corporation’s expenses associated with acquisitions
and dispositions; developments in technology; the impact of the
financial condition of Doral Financial Corporation and R&G Financial
Corporation on the repayment of their outstanding secured loans to the
Corporation; the Corporation’s ability to issue brokered certificates of
deposit and fund operations; risks associated with downgrades in the
credit ratings of the Corporation’s securities; and general competitive
factors and industry consolidation. The Corporation does not undertake,
and specifically disclaims any obligation, to update any of the
"forward-looking statements” to reflect occurrences or unanticipated
events or circumstances after the date of such statements except as
required by the federal securities laws.
