Banc of California, Inc. Announces Quarterly Dividends

Rhea-AI Summary

Banc of California, Inc. (BANC) declares quarterly cash dividends for common stock and preferred stock. The common stock dividend is $0.10 per share, payable on April 1, 2024, to stockholders of record as of March 15, 2024. The preferred stock dividend is $0.4845 per depositary share, payable on March 1, 2024, to stockholders of record as of February 20, 2024. The company also offers a Dividend Reinvestment Plan (DRIP) at a 3% discount for common stockholders.

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 April 1, 2024, to stockholders of record as of March 15, 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 March 1, 2024, to stockholders of record as of February 20, 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 headquartered in Los Angeles with one wholly-owned banking subsidiary, Banc of California (the “bank”). Banc of California is one of the nation’s premier relationship-based business banks focused on providing banking and treasury management services to small-, middle-market, and venture-backed businesses. Banc of California offers a broad range of loan and deposit products and services through more than 90 full-service branches throughout California and in Denver, Colorado, and Durham, North Carolina, as well as full-stack payment processing solutions through its subsidiary, Deepstack Technologies. Banc of California also 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/20240208748360/en/

Investor Relations Inquiries:

Banc of California, Inc.

(855) 361-2262

Jared Wolff, (310) 424-1230

Joe Kauder, (310) 844-5224

William Black, (919) 597-7466

Media Contact:

Debora Vrana, Banc of California

(213) 999-4141

Deb.Vrana@bancofcal.com

Source: Banc of California, Inc.

FAQ

What is the quarterly cash dividend for Banc of California, Inc. common stock?

The quarterly cash dividend for Banc of California, Inc. common stock is $0.10 per share.

When will the common stock dividend be payable?

The common stock dividend will be payable on April 1, 2024.

What is the quarterly cash dividend for Banc of California, Inc. preferred stock?

The quarterly cash dividend for Banc of California, Inc. preferred stock is $0.4845 per depositary share.

When will the preferred stock dividend be payable?

The preferred stock dividend will be payable on March 1, 2024.

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

Banc of California, Inc. offers a DRIP which allows common stockholders to automatically acquire common shares at a 3% discount from the applicable market price.