Popular Effects 1-for-10 Reverse Stock Split
Popular, Inc. (NASDAQ: BPOP) (“Popular”) announced today that the 1 for 10 reverse split of its common stock, $0.01 par value per share, became effective as of 11:59 p.m. Atlantic Standard Time on May 29, 2012.
Popular's common stock will begin trading on a split-adjusted basis when the market opens today, May 30, 2012.
The reverse stock split reduced the number of shares of common stock authorized under the Corporation's Restated Certificate of Incorporation from 1,700,000,000 to 170,000,000 shares, without any change in par value per common share. The reverse split did not change the number of shares of the Corporation's preferred stock authorized, which remains at 30,000,000.
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