OFG Bancorp to redeem three series of preferred stock

By Taylor Fox

New York, March 29 – OFG Bancorp plans to redeem three series of outstanding preferred stock at par of $25, according to a news release.

OFG will redeem its outstanding 1.34 million shares of 7.125% non-cumulative monthly income preferred stock, series A (Cusip: 67103X201) on April 30.

The monthly dividend payment of $0.1484375 per share will be payable to shareholders of record as of April 15.

The outstanding 1.38 million shares of 7% non-cumulative monthly income preferred stock, series B (Cusip: 67103X300) will also be redeemed on April 30.

The monthly dividend payment of $0.1458333 per share will be payable to shareholders of record as of April 15.

The outstanding 960,000 shares of 7.125% non-cumulative perpetual preferred stock, series D (Cusip: 67103X409) will be redeemed on July 15.

The quarterly dividend of $0.4453125 per share is payable on the redemption date together with the redemption price.

American Stock Transfer & Trust Co., LLC (877 248-6417, 718 921-8317) is the redemption and paying agent.

The San Juan, Puerto Rico-based diversified financial holding has three principal subsidiaries, Oriental Bank, Oriental Financial Services and Oriental Insurance, providing a range of retail and commercial banking, lending and wealth management products, services and technology, primarily in Puerto Rico.

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