Market Overview

OFG Bancorp Increases Quarterly Common Stock Cash Dividend by 17%

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OFG Bancorp (NYSE:OFG) today announced its Board of Directors increased
the regular cash dividend per common share by 16.7%, to $0.07 from
$0.06, for the quarter ending December 31, 2018, resulting in a new
annualized rate of $0.28 per share, up from $0.24.

"The dividend increase reflects the Board's annual assessment of OFG's
capital position and earnings growth," said José Rafael Fernández,
President, Chief Executive Officer and Vice Chairman of the Board.
"We're pleased to return more capital to shareholders and continue OFG's
proud tradition of more than a quarter century of uninterrupted payment
of quarterly cash dividends."

The 4Q18 dividend is payable on January 15, 2019, to holders of record
on December 31, 2018. The ex-dividend date is December 28, 2018.

About OFG Bancorp

Now in its 54th year in business, OFG Bancorp is a
diversified financial holding company that operates under U.S. and
Puerto Rico banking laws and regulations. Its three principal
subsidiaries, Oriental Bank, Oriental Financial Services and Oriental
Insurance, provide a wide range of retail and commercial banking,
lending and wealth management products, services and technology,
primarily in Puerto Rico. Investor information can be found at www.ofgbancorp.com.

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