Banc of California, Inc. Announces Quarterly Dividends

Rhea-AI Summary

Banc of California (NYSE: BANC) has declared quarterly dividends for both common and preferred stockholders. Common stockholders will receive $0.10 per share, payable January 2, 2025, with a record date of December 16, 2024. Preferred stockholders of Series F shares will receive $0.4845 per depositary share, payable December 2, 2024, with a record date of November 21, 2024. The company offers a Dividend Reinvestment Plan (DRIP) allowing common stockholders to acquire additional shares at a 3% discount from market price.

Positive

• Maintained quarterly dividend payments showing financial stability
• Offers 3% discount on share purchases through DRIP program
• Continues preferred stock dividend payments

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 January 2, 2025, to stockholders of record as of December 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 December 2, 2024, to stockholders of record as of November 21, 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 $33 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 80 full-service branches located 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/20241107437835/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 Banc of California's (BANC) quarterly dividend amount for common stock in 2025?

Banc of California's quarterly dividend for common stock is $0.10 per share, payable on January 2, 2025.

When is the record date for BANC's common stock dividend announced in 2024?

The record date for Banc of California's common stock dividend is December 16, 2024.

What is the dividend amount for BANC's Series F preferred stock?

The dividend for Series F preferred stock is $0.4845 per depositary share.

What discount does BANC offer in its Dividend Reinvestment Plan?

Banc of California offers a 3% discount from the applicable market price through its Dividend Reinvestment Plan (DRIP).