Popular Announces Entry into $500 Million Accelerated Share Repurchase Agreement
Popular, Inc. (BPOP)
Last popular, inc. earnings: 4/30 08:00 am
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US:NASDAQ Investor Relations:
popular.com/en/investor-relations
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Source: Business Wire
SAN JUAN, Puerto Rico--(BUSINESS WIRE)--Popular, Inc. (“Popular” or the “Corporation”) (NASDAQ: BPOP) announced today that it has entered into an accelerated share repurchase agreement (the “ASR Agreement”) to repurchase an aggregate of $500 million of Popular’s common stock. Popular previously disclosed in a press release on January 9, 2020 its plan to repurchase up to $500 million of its common stock as part of its planned capital actions for 2020.Under the terms of the ASR Agreement, on February 3, 2020 the Corporation will make an initial payment of $500 million and receive an initial delivery of 7,055,919 shares of Popular’s Common Stock (the “Initial Shares”).The transaction is being accounted for as a treasury stock transaction. Furthermore, as a result of the receipt of the Initial Shares, the Corporation recognized in shareholders’ equity approximately $400 million in treasury stock and $100 million as a reduction of capital surplus. Upon the final settlement of the ASR A
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BPOP
Earnings
- 10/23/24 - Miss
BPOP
Sec Filings
- 11/19/24 - Form 4
- 11/15/24 - Form 8-K
- 11/14/24 - Form SC
- BPOP's page on the SEC website