Popular, Inc. Shareholders Reelect Three Directors, Approve Proposals
May 01 2009 - 2:07PM
PR Newswire (US)
SAN JUAN, Puerto Rico, May 1 /PRNewswire-FirstCall/ -- Popular,
Inc. (NASDAQ:BPOP) announced today, following its annual
stockholders meeting, that shareholders approved the reelection of
three directors and four proposals by the Board of Directors with
strong majorities. Chairman and Chief Executive Officer Richard L.
Carrion was reelected as Class I director for a three-year term
with 87.41 percent of the shares voted in favor; Juan Bermudez was
reelected as Class I director for a three-year term with 88.07
percent of the shares voted in favor; and Francisco Rexach was
reelected to serve as Class I director for a three-year term with
81.54 percent of the shares voted in favor. In addition,
shareholders approved a proposal to authorize the Board of
Directors to increase the number of shares of common stock from
470,000,000 to 700,000,000 with 79.29 percent of outstanding shares
in favor and a proposal to amend the par value of the common stock
from $6 per share to $0.01 per share with 78.66 percent of
outstanding shares in favor. Shareholders also approved the overall
executive compensation policies and procedures with 93.68 of the
shares voted in favor and ratified the selection of
PricewaterhouseCoopers LLP as the independent registered public
accounting firm of the Corporation for 2009 with 95.32 percent of
the shares voted in favor. For more information, visit
http://www.popular.com/. Popular, Inc. is a full service financial
services provider based in Puerto Rico with operations in Puerto
Rico, the United States, the Caribbean and Latin America. As the
leading financial institution in Puerto Rico, with 240 branches and
offices, the Corporation offers retail and commercial banking
services through its principal banking subsidiary, Banco Popular de
Puerto Rico, as well as auto and equipment leasing and financing,
mortgage loans, investment banking, broker-dealer and insurance
services through specialized subsidiaries. In the United States,
the Corporation operates Banco Popular North America (BPNA),
including its wholly owned subsidiary E-LOAN. BPNA is a community
bank providing a broad range of financial services and products to
the communities it serves. BPNA operates branches in New York,
California, Illinois, New Jersey and Florida. E-LOAN markets
deposit accounts under its name for the benefit of BPNA and offers
loan customers the option of being referred to a trusted consumer
lending partner. The Corporation, through its transaction
processing company, EVERTEC, continues to use its expertise in
technology as a competitive advantage in its expansion throughout
the Caribbean and Latin America, as well as internally servicing
many of its subsidiaries' system infrastructures and transactional
processing businesses. The Corporation is exporting its 115 years
of experience through these regions while continuing its commitment
to meet the needs of retail and business clients through innovation
and to foster growth in the communities it serves. Contact:
Investor Relations: Jorge A. Junquera Chief Financial Officer
Senior Executive Vice President 787-754-1685 Media Relations:
Teruca Rullan Senior Vice President Corporate Communications
787-281-5170 or 917-679-3596 (mobile) DATASOURCE: Popular, Inc.
CONTACT: Investors: Jorge A. Junquera, Chief Financial Officer and
Senior Executive Vice President, +1-787-754-1685, or Media: Teruca
Rullan, Senior Vice President, Corporate Communications,
+1-787-281-5170, or +1-917-679-3596 (mobile), both of Popular Web
site: http://www.popular.com/
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