Subsequent Events

12 Months Ended

Dec. 31, 2021

Subsequent Events [Abstract]

Subsequent Events

Subsequent Events

On February 15, 2022, the Board declared a regular quarterly cash dividend of $0.05 per share on the Company’s outstanding shares of common stock. The dividend will be paid on March 25, 2022 to stockholders of record as of the close of business on February 25, 2022. The Board anticipates declaring this dividend in future quarters on a regular basis; however future declarations of dividends are subject to Board of Directors’ approval and may be adjusted as business needs or market conditions change.

On February 24, 2022, the Company announced that it had signed a definitive agreement with Banco Popular de Puerto Rico and its parent, Popular, to sell certain assets in exchange for Evertec stock held by Popular with an approximate value of $197 million. The Company also entered into an agreement to modify and extend certain commercial agreements with Popular that had an initial term ending in 2025. The transaction is expected to close during the mid-year 2022 and is subject to customary closing conditions.

The Company also announced on February 24, 2022 that it entered into a share purchase agreement to acquire 100% of the outstanding shares of BBR SpA, a Santiago, Chile based payment solutions company with operating offices in Peru. The aggregate purchase price for the shares is CLP 48,600 million, approximately USD$60 million at current exchange rates. The transaction is subject to regulatory approval and is expected to close in the second or third quarter of 2022.