Banc of California, Inc. Announces Quarterly Dividends

Rhea-AI Summary

Banc of California (NYSE: BANC) has announced quarterly dividends for its common and preferred stocks. The Board of Directors declared a $0.10 per share cash dividend on common stock, payable on October 1, 2024, to stockholders of record as of September 16, 2024. Additionally, a $0.4845 per depositary share dividend was declared on the 7.75% Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series F, payable on September 3, 2024, to stockholders of record as of August 22, 2024.

The company also maintains a Dividend Reinvestment Plan (DRIP), allowing common stockholders to acquire shares at a 3% discount from the market price. Registered common stockholders with holdings at Computershare are eligible to participate in the DRIP program.

Positive

• Consistent quarterly dividend payments for both common and preferred stockholders
• 3% discount offered on share acquisitions through the Dividend Reinvestment Plan (DRIP)
• Maintenance of dividend payments suggests financial stability

Negative

• None.

LOS ANGELES--(BUSINESS WIRE)-- Banc of California, Inc. (the “Company”) (NYSE: BANC) announced today that its Board of Directors declared a quarterly cash dividend of $0.10 per share on its outstanding common stock. The dividend will be payable October 1, 2024, to stockholders of record as of September 16, 2024.

The Board of Directors also declared a quarterly cash dividend of $0.4845 per depositary share on its 7.75% Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series F. The dividend will be payable September 3, 2024, to stockholders of record as of August 22, 2024. The Series F depositary shares are traded on the New York Stock Exchange under the “Banc/PF” symbol.

The Company maintains a Dividend Reinvestment Plan (DRIP) which allows common stockholders to automatically acquire common shares at a 3% discount from the applicable market price. All registered common 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 over $35 billion in assets and the parent company of Banc of California. Banc of California is one of the nation’s premier relationship-based business banks, providing banking and treasury management services to small, middle-market, and venture-backed businesses. Banc of California is the third largest bank headquartered in California and offers a broad range of loan and deposit products and services through more than 80 full-service branches throughout California and in Denver, Colorado, and Durham, North Carolina, as well as through regional offices nationwide. The bank also provides full-stack payment processing solutions through its subsidiary, Deepstack Technologies, and serves the Community Association Management industry nationwide with its technology-forward platform, SmartStreet™. The bank is committed to its local communities by supporting organizations that provide financial literacy and job training, small business support, affordable housing, and more. For more information, please visit us at www.bancofcal.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240812022241/en/

Investor Relations Inquiries:

Banc of California, Inc.

(855) 361-2262

Jared Wolff, (310) 424-1230

Joe Kauder, (310) 844-5224

Ann DeVries, (646) 376-7011

Media Contact:

Debora Vrana, Banc of California

(213) 533-3122

Deb.Vrana@bancofcal.com

Source: Banc of California, Inc.

FAQ

What is the dividend amount for Banc of California's (BANC) common stock?

Banc of California (BANC) declared a quarterly cash dividend of $0.10 per share on its outstanding common stock.

When is the payment date for Banc of California's (BANC) common stock dividend?

The common stock dividend for Banc of California (BANC) will be payable on October 1, 2024.

What is the dividend amount for Banc of California's (BANC) Series F preferred stock?

Banc of California (BANC) declared a quarterly cash dividend of $0.4845 per depositary share on its 7.75% Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series F.

What discount does Banc of California (BANC) offer in its Dividend Reinvestment Plan?

Banc of California (BANC) offers a 3% discount from the applicable market price for common stockholders participating in the Dividend Reinvestment Plan (DRIP).