Banc of California Announces Quarterly Dividend

Rhea-AI Summary

Banc of California, Inc. (NYSE: BANC) declares $0.10 per share quarterly cash dividend, payable on January 2, 2024, with a 3% discount through its Dividend Reinvestment Plan (DRIP).

Positive

• The company's declaration of a quarterly cash dividend demonstrates its commitment to returning value to shareholders.
• The 3% discount offered through the DRIP program provides an incentive for stockholders to reinvest their dividends, potentially increasing their ownership in the company.

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 $0.10 per share on its outstanding common stock. The dividend will be payable on January 2, 2024 to stockholders of record as of December 15, 2023.

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.

About Banc of California, Inc.

Banc of California, Inc. (NYSE: BANC) is a bank holding company with $9.25 billion in assets at September 30, 2023 and one wholly-owned banking subsidiary, Banc of California, N.A. (the Bank). The Bank has 32 offices including 26 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, and full stack payment processing solution through our subsidiary Deepstack Technologies. 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/20231110697132/en/

Investor Relations Inquiries:

Banc of California, Inc.

(855) 361-2262

Jared Wolff, (949) 385-8700

Joe Kauder, (949) 236-5467

Media Contact:

Debora Vrana, Banc of California

(213) 999-4141

Deb.Vrana@bancofcal.com

Source: Banc of California, Inc.

FAQ

What is the dividend amount declared by Banc of California, Inc. (NYSE: BANC)?

The company declared a quarterly cash dividend of $0.10 per share on its outstanding common stock.

When will the dividend be payable to stockholders of Banc of California, Inc. (NYSE: BANC)?

The dividend will be payable on January 2, 2024.

What is the Dividend Reinvestment Plan (DRIP) offered by Banc of California, Inc. (NYSE: BANC)?

The DRIP allows stockholders to automatically acquire shares at a 3% discount from the applicable market price.

How can stockholders participate in Banc of California, Inc. (NYSE: BANC)'s DRIP program?

All registered stockholders with holdings maintained at the Company's transfer agent, Computershare, are eligible to participate in the DRIP program.

How can I get more information on Banc of California, Inc. (NYSE: BANC)'s DRIP program?

For more information on the Company's DRIP program, please contact Investor Relations at IR@bancofcal.com or (855) 361-2262.