Doral Financial Corporation Declares Cash Dividend on Four Series of Preferred Stock

Business Wire, Feb 5, 2008

SAN JUAN, Puerto Rico -- Doral Financial Corporation (NYSE: DRL), a diversified financial services company, declared the regular monthly cash dividends on the Company's 7% Noncumulative Monthly Income Preferred Stock, Series A (the "Series A Preferred Stock"), 8.35% Noncumulative Monthly Income Preferred Stock, Series B (the "Series B Preferred Stock") and 7.25% Noncumulative Monthly Income Preferred Stock, Series C (the "Series C Preferred Stock") for the quarter. The dividend is paid monthly on January 31, February 28 and March 31, 2008. The monthly dividend for Series A, B and C will be $0.2917, $0.173958, $0.151042 per share, respectively and payable on January 31, February 28 and March 31, 2008. In the case of Series A Preferred Stock, the dividend is paid to the record holders as of close of business on January 29, February 27, and March 27, 2008. In the case of the Series B and Series C Preferred Stock, the dividend is paid to the record holders as of close of business on January 15, February 15 and March 15, 2008.

Doral Financial Corporation also declared the quarterly dividend on the Company's 4.75% Perpetual Cumulative Convertible Preferred Stock, in the amount of $2.96875 per share. The dividend is paid on March 15, 2008 to holders of record as of the close of business on March 1, 2008.