Published on 22 Mar 2024 on Simply Wall St. via Yahoo Finance

Here's What We Like About OFG Bancorp's (NYSE:OFG) Upcoming Dividend

OFG Bancorp (NYSE:OFG) stock is about to trade ex-dividend in 4 days. The ex-dividend date is one business day before a company's record date, which is the date on which the company determines which shareholders are entitled to receive a dividend. The ex-dividend date is important as the process of settlement involves two full business days. So if you miss that date, you would not show up on the company's books on the record date. In other words, investors can purchase OFG Bancorp's shares before the 27th of March in order to be eligible for the dividend, which will be paid on the 15th of April.

The company's next dividend payment will be US$0.25 per share. Last year, in total, the company distributed US$1.00 to shareholders. Based on the last year's worth of payments, OFG Bancorp stock has a trailing yield of around 2.8% on the current share price of US$36.20. If you buy this business for its dividend, you should have an idea of whether OFG Bancorp's dividend is reliable and sustainable. As a result, readers should always check whether OFG Bancorp has been able to grow its dividends, or if the dividend might be cut.

Check out our latest analysis for OFG Bancorp