Popular Q2 net income $177.8M, EPS $2.47; announces $500M buyback and 13% dividend hike

POPULAR, INC.

2024-Q2 EPS reported $3.90

Net income $177.8M ($2.47 diluted EPS) vs Q1 $103.3M; adjusted net income up $42.6M ex-FDIC charge.
Net interest income $568.3M (+3.2% QoQ); net interest margin expanded 6 bps to 3.22%.
Credit quality improved: NPLs down $12.3M, NCOs down $8.6M, ACL/NPLs 213.6%.
Authorized $500M common stock repurchase; quarterly dividend raised 13% to $0.70 (Q1 2025, pending Board).
CET1 ratio 16.48%; loans $35.6B, deposits $65.5B at quarter-end.

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