Quarterly ResultJul 23, 2026, 08:07 AM
Popular, Inc. Q2 Net Income $278M; CEO Retires; Boosts Dividend, $1B Buyback
AI Summary
Popular, Inc. announced strong second quarter 2026 financial results, with net income rising 13% quarter-over-quarter to $278 million and diluted EPS reaching $4.35. The company also announced significant capital actions, including a 20% increase in its quarterly common stock dividend to $0.90 per share and a new $1 billion share repurchase authorization. Additionally, President and CEO Javier D. Ferrer will retire effective August 31, 2026, and will be succeeded by Jorge J. García. The company reported increased net interest income, growth in deposits and loans, and an improved NPL ratio, despite a higher NCO ratio due to a specific commercial charge-off.
Key Highlights
- CEO Javier D. Ferrer to retire Aug 31, 2026; Jorge J. García named successor.
- Quarterly common stock dividend increased 20% to $0.90 per share, effective Q4 2026.
- New common stock repurchase authorization of up to $1 billion approved.
- Q2 2026 net income rose to $278 million, up 13% from Q1 2026.
- Diluted EPS reached $4.35, a $0.57 increase from the previous quarter.
- Net interest income increased 3.5% QoQ to $693 million.
- Total deposits grew by $2.6 billion QoQ to $70.2 billion.
- Loans held-in-portfolio increased $460 million QoQ to $39.75 billion.
- Non-Performing Loan (NPL) ratio improved to 1.04% from 1.17% QoQ.
Price Impact
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