PacWest Bancorp Announces Quarterly Dividends

Rhea-AI Summary

PacWest Bancorp (Nasdaq: PACW) announced a quarterly cash dividend of $0.25 per common share, payable on August 31, 2022, to stockholders of record by August 15, 2022.

Additionally, a quarterly cash dividend of $0.4575 per depositary share on its 7.75% Fixed Rate Reset Non-Cumulative Perpetual Preferred Stock, Series A, will be paid on September 1, 2022 to stockholders of record as of August 15, 2022.

Positive

• Declaring a regular cash dividend demonstrates financial stability and a commitment to returning value to shareholders.
• Maintaining a steady dividend policy may enhance investor confidence.

Negative

• None.

LOS ANGELES, Aug. 01, 2022 (GLOBE NEWSWIRE) -- PacWest Bancorp (Nasdaq: PACW) announced today that its Board of Directors has declared a quarterly cash dividend of $0.25 per common share. The cash dividend is payable on August 31, 2022 to stockholders of record at the close of business on August 15, 2022.

The Board of Directors also declared a quarterly cash dividend of $0.4575 per depositary share on its 7.75% Fixed Rate Reset Non-Cumulative Perpetual Preferred Stock, Series A. The dividend will be payable September 1, 2022 to stockholders of record as of August 15, 2022. The Series A depositary shares are traded on the Nasdaq Stock Exchange under the “PACWP” symbol.

ABOUT PACWEST BANCORP

PacWest Bancorp (“PacWest”) is a bank holding company with approximately $41 billion in assets headquartered in Los Angeles, California, with an executive office in Denver, Colorado, with one wholly-owned banking subsidiary, Pacific Western Bank (the “Bank”). The Bank is focused on relationship-based business banking to small, middle-market, and venture-backed businesses nationwide. The Bank offers a broad range of loan and lease and deposit products and services through 69 full-service branches located in California, one branch located in Durham, North Carolina, and one branch located in Denver, Colorado, and numerous loan production offices around the country. The Bank provides community banking products including lending and comprehensive deposit and treasury management services to small and medium-sized businesses conducted primarily through our California-based branch offices and Denver, Colorado branch office. The Bank offers national lending products including asset-based, equipment, and real estate loans and treasury management services to established middle-market businesses on a national basis. The Bank provides venture banking products including a comprehensive suite of financial services focused on entrepreneurial and venture-backed businesses and their venture capital and private equity investors, with offices located in key innovation hubs across the United States. The Bank also offers financing of business-purpose, non-owner-occupied investor properties through Civic Financial Services a wholly-owned subsidiary. The Bank also provides a specialized suite of services for the HOA industry. For more information about PacWest Bancorp or Pacific Western Bank, visit www.pacwest.com.

CONTACTS

Matthew P. Wagner	Bart R. Olson	William J. Black
CEO	Executive Vice President and CFO	Executive Vice President
303.802.8900	714.989.4149	Strategy and Corporate Development
		919.597.7466

FAQ

What is the dividend amount declared by PacWest Bancorp?

PacWest Bancorp declared a quarterly cash dividend of $0.25 per common share.

When will the dividends be paid to shareholders of PacWest?

The dividends will be payable on August 31, 2022, for common shares, and on September 1, 2022, for Series A preferred stock.

What is the record date for the PacWest Bancorp dividend?

The record date for both dividends is August 15, 2022.

What is the stock symbol for PacWest Bancorp?

The stock symbol for PacWest Bancorp is PACW.

How often does PacWest Bancorp pay dividends?

PacWest Bancorp pays dividends on a quarterly basis.