UPDATE: OFG Bancorp Increases Quarterly Common Stock Cash Dividend by 33% to $0.08

OFG Bancorp

today announced that its Board of Directors has increased its regular quarterly cash dividend per common share by 33%, to $0.08 per share, from $0.06 per share, for the fourth quarter ending December 31, 2013. On an annualized basis, the dividend per common share increases to $0.32 per share, from $0.24, and represents a 1.92% yield based on yesterday's closing price of $16.63. José Rafael Fernández, President, Chief Executive Officer and Vice Chairman of the Board, said, “The 33% increase in our dividend per common share reflects the soundness and profitability of our banking and wealth management businesses; the successful integration of our acquisition of BBVA's Puerto Rico operations, which has resulted in much