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 October 1, 2021, to stockholders of record as of September 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 September 15, 2021, to holders on record as of August 31, 2021. Banc of California also offers a Dividend Reinvestment Plan (DRIP) allowing shareholders to acquire shares at a 3% discount.

Positive

• Declared a quarterly cash dividend of $0.06 per share.
• Dividend payable on October 1, 2021, creates a positive cash flow for shareholders.
• Offers a Dividend Reinvestment Plan at a 3% discount, enhancing shareholder value.

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 October 1, 2021 to stockholders of record as of September 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 September 15, 2021 to holders of record as of August 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 $8.0 billion in assets and one wholly-owned banking subsidiary, Banc of California, N.A. (the Bank). The Bank has 36 offices including 30 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/20210810005988/en/

FAQ

What is the dividend amount for Banc of California (BANC)?

Banc of California has declared a quarterly cash dividend of $0.06 per share.

When will Banc of California's dividend be paid?

The dividend will be payable on October 1, 2021.

What is the record date for Banc of California's dividend?

The record date for the dividend is September 15, 2021.

Does Banc of California have a Dividend Reinvestment Plan?

Yes, Banc of California offers a Dividend Reinvestment Plan (DRIP) allowing stockholders to acquire shares at a 3% discount.

What is the dividend for the Series E Preferred Stock of BANC?

The quarterly dividend for the Series E Preferred Stock is $0.4375 per depositary share.