SAN JUAN, Puerto Rico--(BUSINESS WIRE)--
Oriental Financial Group Inc. (NYSE: OFG) today announced that its Board
of Directors declared a regular quarterly cash dividend of $0.04 per
common share for the second quarter ending June 30, 2010, payable on
July 15, 2010, to holders of record on June 30, 2010, with an
ex-dividend date of June 28, 2010.
The Board also declared a quarterly cash dividend of $2.664002664 per
share of Series C Preferred Stock for the same period, with the same
payable, record and ex-dividend dates. Each share of Series C Preferred
Stock, subject to approval of Oriental’s stockholders at a special
meeting on June 30, 2010, will be convertible into approximately 66.60
shares of common stock, making the dividend the functional equivalent of
$0.04 per common share.
Oriental completed the sale of $200 million of Series C Preferred Stock
on April 30, 2010 in anticipation of its successful bid to purchase
selected assets and liabilities of Eurobank from the FDIC.
About Oriental Financial Group
Oriental Financial Group Inc. is a diversified financial holding company
operating under U.S. and Puerto Rico banking laws and regulations. Now
in its 46th year in business, Oriental provides a full range
of mortgage, commercial and consumer banking services through more than
40 Oriental Group financial centers in Puerto Rico, as well as financial
planning, trust, insurance, investment brokerage and investment banking
services. Investor information about Oriental can be found at www.orientalfg.com.
Forward-Looking Statements
This news release may contain forward-looking statements that reflect
management's beliefs and expectations and are subject to risks and
uncertainties inherent to the Group's business, including, without
limitation, the effect of economic and market conditions, the level and
volatility of interest rates, and other risks and considerations
detailed in the Group’s filings with the Securities and Exchange
Commission. These or other factors could cause actual results to differ
materially from forward-looking statements. The Group also disclaims any
obligations to update information contained in this news release because
of developments occurring after the date of issuance.
Source: Oriental Financial Group Inc.
Contact:
Puerto Rico Contact:
Oriental Financial Group Inc.
Marilyn
Santiago-Colón, 787-993-4648
or
U.S. Contact:
Anreder
& Company
Steven Anreder and Gary Fishman, 212-532-3232