SAN JUAN, Puerto Rico--(BUSINESS WIRE)--
Oriental Financial Group Inc. (NYSE: OFG) today announced it has
increased its regularly quarterly cash dividend per common share by 25%,
to $0.05 per share, from $0.04 per share, for the fourth quarter ending
December 31, 2010. The payable date is January 14, 2011, to holders of
record on December 31, 2010, with an ex-dividend date of December 29,
2010.
On an annualized basis, the dividend increases to $0.20 per share, from
$0.16, and represents a 1.68% yield based on yesterday’s closing price
of $11.88. “The dividend increase is a tangible recognition by the Board
of the strong current positioning and improving outlook for Oriental as
we grow our banking activities,” said José Rafael Fernández, Vice
Chairman of the Board, President and Chief Executive Officer.
Most recently, Oriental announced a book value per common share of
$14.01 and tangible common equity to total assets of 8.72% as of
September 30, 2010.
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, as well as
financial planning, trust, insurance, investment brokerage and
investment banking services, primarily in Puerto Rico, through 30
financial centers. 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 Oriental’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 Oriental’s filings with the Securities and Exchange
Commission. These or other factors could cause actual results to differ
materially from forward-looking statements. Oriental 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:
Oriental Financial Group Inc.
Marilyn
Santiago-Colón, 787-993-4648
or
U.S.:
Anreder
& Company
Steven Anreder and Gary Fishman,
212-532-3232