|13:39 EDT||OFG||OFG Bancorp repurchased 444,613 common shares to date in Q4|
OFG announced it repurchased 444,613 common shares to date in the fourth quarter, at an average price of $14.65 per share, for a total of $6.5M. Year to date, OFG repurchased 1,152,113 common shares (equal to 2.52% of total shares issued and outstanding as of 12/31/13), at an average price of $14.66 each, for a total of $16.9M. As a result, OFG Bancorp has returned 42.3% of its annualized earnings in 2014 to investors comprised of common stock dividends (21.1%) and shares repurchased (21.2%). The new increased common stock dividend will not have a material impact on the anti-dilution effect of the Series C preferred shares outstanding.