Why Popular (BPOP) is a Top Dividend Stock for Your Portfolio

Company Overview - Popular (BPOP) is headquartered in Hato Rey and operates in the Finance sector, specifically running Banco Popular and other banks in Puerto Rico and the U.S. [2] - The stock has experienced a price change of 22.85% since the beginning of the year [2]. Dividend Information - Popular is currently paying a dividend of $0.62 per share, resulting in a dividend yield of 2.46%, which is slightly below the Banks - Southeast industry's yield of 2.47% and significantly above the S&P 500's yield of 1.51% [2]. - The company's annualized dividend of $2.48 has increased by 9.3% from the previous year [2]. - Over the last 5 years, Popular has raised its dividend 4 times year-over-year, achieving an average annual increase of 13.77% [2]. - The current payout ratio for Popular is 30%, indicating that it has distributed 30% of its trailing 12-month earnings per share as dividends [2]. Earnings Growth - The Zacks Consensus Estimate for Popular's earnings in 2024 is projected at $8.74 per share, reflecting a year-over-year earnings growth rate of 6.98% [3]. Investment Perspective - Popular is considered a compelling investment opportunity due to its strong dividend performance and current market position [4]. - The stock holds a Zacks Rank of 3 (Hold), suggesting a stable outlook [4].