Pacwest Bancorp Announces Quarterly Dividends

Rhea-AI Summary

PacWest Bancorp (Nasdaq: PACW) has declared a quarterly cash dividend of $0.25 per common share, payable on February 28, 2023, to stockholders of record by the close of business on February 15, 2023.

Additionally, a quarterly cash dividend of $0.4845 per depositary share on its 7.75% Fixed Rate Reset Non-Cumulative Perpetual Preferred Stock, Series A, will be paid on March 1, 2023. The record date for this dividend is also February 15, 2023.

PacWest oversees over $41 billion in assets and operates primarily through its wholly-owned subsidiary, Pacific Western Bank, which focuses on business banking and treasury management services.

Positive

• Quarterly cash dividend of $0.25 per common share announced.
• Quarterly cash dividend of $0.4845 per depositary share also declared.
• Strong asset base of over $41 billion.

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• None.

LOS ANGELES, Feb. 01, 2023 (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 February 28, 2023 to stockholders of record at the close of business on February 15, 2023.

The Board of Directors also declared a quarterly cash dividend of $0.4845 per depositary share on its 7.75% Fixed Rate Reset Non-Cumulative Perpetual Preferred Stock, Series A. The dividend will be payable March 1, 2023 to stockholders of record as of February 15, 2023. 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 over $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”). Pacific Western Bank is a relationship-based community bank focused on providing business banking and treasury management services to small, middle-market, and venture-backed businesses. The Bank offers a broad range of loan and lease and deposit products and services through full-service branches throughout California and in Durham,North Carolina and Denver, Colorado, and loan production offices around the country. For more information about PacWest Bancorp or Pacific Western Bank, visit www.pacwest.com.

CONTACTS

Kevin L. Thompson Executive Vice President, Chief Financial Officer 303.802.8934

William J. Black Executive Vice President, Strategy and Corporate Development 919.597.7466

FAQ

What is the dividend amount for common shares of PACW?

The dividend amount for common shares of PACW is $0.25 per share.

When will PACW pay its next dividend?

PACW will pay its next dividend on February 28, 2023.

What is the record date for PACW's upcoming dividend?

The record date for PACW's upcoming dividend is February 15, 2023.

What is the dividend for PACW's preferred shares?

The dividend for PACW's preferred shares is $0.4845 per depositary share.

When is the payment date for PACW's preferred stock dividend?

The payment date for PACW's preferred stock dividend is March 1, 2023.