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, payable on July 1, 2021, to stockholders of record as of June 15, 2021. Additionally, a dividend of $0.4375 per depositary share on its 7.00% Series E Non-Cumulative Perpetual Preferred Stock will be paid on June 15, 2021, for holders of record as of May 31, 2021. Banc of California also offers a Dividend Reinvestment Plan (DRIP) enabling stockholders to purchase shares at a 3% discount.

Positive

• Quarterly cash dividend of $0.06 per share announced, providing income to shareholders.
• Dividend Reinvestment Plan (DRIP) offers a 3% discount on shares, incentivizing investment.
• Stable preferred stock dividend of $0.4375 per depositary share maintained.

Negative

• None.

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 July 1, 2021 to stockholders of record as of June 15, 2021.

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 $0.4375 per depositary share on the Company's 7.00% Series E Non-Cumulative Perpetual Preferred Stock. The dividend will be payable on June 15, 2021 to holders of record as of May 31, 2021. The Series E depositary 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 $7.9 billion in assets and one wholly-owned banking subsidiary, Banc of California, N.A. (the “Bank”). The Bank has 36 offices including 29 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210514005136/en/

FAQ

What is the dividend amount declared by Banc of California (BANC) for the common stock?

Banc of California declared a dividend of $0.06 per share for its common stock.

When will Banc of California's cash dividend be paid?

The cash dividend will be payable on July 1, 2021.

What is the payment date for the preferred stock dividend of Banc of California (BANC)?

The preferred stock dividend of $0.4375 per depositary share will be paid on June 15, 2021.

How can shareholders participate in the Dividend Reinvestment Plan (DRIP) offered by Banc of California?

Shareholders can participate in the DRIP to acquire shares at a 3% discount from the market price.