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  • factual_observer factual_observer Aug 5, 2010 11:23 AM Flag

    A director bought 45ks at 2.75

    I'm slightly more optimistic than that since provisioning should continue to decrease from here on with the comfortable reserves they have built up over the past two years. So that we could possibly see dividend restoration by 2012 if 2011 is the start of renewed profitability on a sustained basis.

    Certainly, while management and the Board have not talked publicly about dividend restoration, you can pretty much assume it has to be their unspoken goal. I see the recent events/steps as leading to that goal. There is a large investor segment on the island that depends on BPOP's dividends to supplement their income, and you can be sure the Board is aware of that fact. Even the island's Tax Dept. needs to overcome the reduction of dividend tax collection of the last couple of years.

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