Banc of California Announces Quarterly Dividends

Rhea-AI Summary

Banc of California, Inc. (NYSE: BANC) has declared a quarterly cash dividend of $0.06 per share on its common stock, payable on January 4, 2021, to stockholders of record as of December 15, 2020.

Additionally, dividends were declared on two series of preferred stock: $0.460938 per depository share on the 7.375% Series D and $0.4375 on the 7.00% Series E, both payable on December 15, 2020, to holders of record as of November 30, 2020.

Banc of California also offers a Dividend Reinvestment Plan that permits shares purchasing at a 3% discount.

Positive

• Quarterly cash dividend of $0.06 per share enhances shareholder value.
• Dividend Reinvestment Plan offers a 3% discount, encouraging reinvestment.

Negative

• None.

SANTA ANA, Calif.--(BUSINESS WIRE)--Banc of California, Inc. (NYSE: BANC), today announced that its Board of Directors has declared a quarterly cash dividend of $0.06 per share on its outstanding common stock. The dividend will be payable on January 4, 2021 to stockholders of record as of December 15, 2020.

Banc of California maintains a Dividend Reinvestment Plan (DRIP) which allows stockholders to automatically acquire shares at a 3% discount from the applicable market price. All registered stockholders with holdings maintained at the Company's transfer agent, Computershare, are eligible to participate in the DRIP program. For more information on the Company's DRIP program, please contact Investor Relations at IR@bancofcal.com or (855) 361-2262.

The Board of Directors also declared a quarterly dividend of $0.460938 per depository share on the Company's 7.375% Series D Non-Cumulative Perpetual Preferred Stock. The dividend will be payable on December 15, 2020 to holders of record as of November 30, 2020. The Series D depository shares are traded on the New York Stock Exchange under the “BANC PRD” symbol.

The Board of Directors also declared a quarterly dividend of $0.4375 per depository share on the Company's 7.00% Series E Non-Cumulative Perpetual Preferred Stock. The dividend will be payable on December 15, 2020 to holders of record as of November 30, 2020. The Series E depository shares are traded on the New York Stock Exchange under the “BANC PRE” symbol.

About Banc of California, Inc.

Banc of California, Inc. (NYSE: BANC) is a bank holding company with approximately $7.7 billion in assets and one wholly-owned banking subsidiary, Banc of California, N.A. (the “Bank”). The Bank has 39 offices including 31 full-service branches located throughout Southern California. Through our dedicated professionals, we provide customized and innovative banking and lending solutions to businesses, entrepreneurs and individuals throughout California. We help to improve the communities where we live and work, by supporting organizations that provide financial literacy and job training, small business support and affordable housing. With a commitment to service and to building enduring relationships, we provide a higher standard of banking. We look forward to helping you achieve your goals. For more information, please visit us at www.bancofcal.com.