Company: BPOPM
Filing Date: 2025-03-25
Form Type: DEF 14A
Source: 0001140361-25-010189
Chunk: 5

Company: POPULAR, INC.
Filing Date: 2025-03-25
Form: DEF 14A
Chunk 5
---
 online channel. The increases were partially offset by a reduction in customer deposits from clients seeking higher yield on their excess liquidity, a significant part of which were retained by the Corporation’s broker dealer subsidiary, whose assets under management increased by $2.6 billion or 32% in 2024. |

| Capital Strategy                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |
| During 2024, the Corporation continued returning capital to our shareholders. In the third quarter of 2024, the Corporation commenced a $500 million stock repurchase program, repurchasing approximately 2.3 million shares of common stock for approximately $217 million in total during 2024. During the fourth quarter of 2024, Popular also increased the quarterly common stock dividend from $0.62 to $0.70 per share, commencing with the dividend payable in the first quarter of 2025. As of December 31, 2024, tangible book value per share was $68.16, a 14% increase from 2023. |

| Social Commitment                                                                                                                                                                                                                                                                                                                                                                                                                             |
| As part of Popular’s steadfast social commitment, financial and in-kind assistance was provided through Fundación Banco Popular, Popular Foundation and corporate donations and social programs impacting communities in Puerto Rico, the mainland United States and the Virgin Islands in the areas of education, financial inclusion and entrepreneurship. Our total social investment during 2024 amounted to approximately $10.8 million. |

| Environment                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |
| As part of our commitment to our environment, during 2024, Popular allocated approximately $476,000 to environmental initiatives aimed at reforestation, biodiversity and renewable energy. In addition, the Corporation partnered with the Puerto Rico Community Foundation and the Global Energy Alliance for the People and the Planet to offer subsidized financing to eligible critical facilities to purchase, install, maintain and own a solar and battery storage system in order to provide essential services during and after a natural disaster. |

| Human Capital                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |
| Throughout the year, the Corporation remained focused on embedding the renewed corporate purpose “Putting People at the Center of Progress” that was launched during 2023. To improve the social and economic well-being of our employees, during 2024, we further enhanced our health and wellness offering by launching educational videos in the areas of psychiatry, wellness coaching and culinary medicine. During 2024, Popular also continued supporting its Employee Resource Groups (“ERGs”) by sponsoring educational activities and community service and mentoring programs. |

| Transformation                                                                                                                                              |
| Popular