PCB Bancorp Declares Increased Quarterly Cash Dividend of $0.12 Per Common Share

Rhea-AI Summary

PCB Bancorp (NASDAQ: PCB) declared a quarterly cash dividend of $0.12 per common share on July 22, 2021, increasing from $0.10. The dividend will be payable on or about August 13, 2021, to shareholders on record as of August 6, 2021. CEO Henry Kim emphasized the company’s commitment to shareholder value through these corporate decisions.

PCB Bancorp serves small to medium-sized businesses, individuals, and professionals, especially within the Korean-American and minority communities in Southern California.

Positive

• Dividend increased from $0.10 to $0.12 per common share, signaling financial strength.
• Demonstrates commitment to returning value to shareholders.

Negative

• None.

PCB Bancorp (the “Company”) (NASDAQ: PCB), the holding company of Pacific City Bank (the “Bank”), announced that on July 22, 2021, its Board of Directors declared a quarterly cash dividend of $0.12 per common share. The dividend will be paid on or about August 13, 2021, to shareholders of record as of the close of business on August 6, 2021.

“I am pleased to announce another increase in our quarterly cash dividend to $0.12 per common share from $0.10 per common share for the third quarter of 2021,” said Henry Kim, President and Chief Executive Officer. “We are committed to making corporate decisions that directly benefit our shareholders.”

About PCB Bancorp

PCB Bancorp, formerly known as Pacific City Financial Corporation, is the bank holding company for Pacific City Bank, a California state chartered bank, offering a full suite of commercial banking services to small to medium-sized businesses, individuals and professionals, primarily in Southern California, and predominantly in Korean-American and other minority communities.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210722005065/en/

FAQ

What is the dividend amount announced by PCB Bancorp?

PCB Bancorp announced a quarterly cash dividend of $0.12 per common share.

When will the dividend be paid to PCB Bancorp shareholders?

The dividend will be paid on or about August 13, 2021.

What is the record date for the dividend payment from PCB Bancorp?

The record date for the dividend payment is August 6, 2021.

How often does PCB Bancorp pay dividends?

PCB Bancorp pays dividends quarterly, as indicated by the recent announcement.

What does the dividend increase from PCB Bancorp indicate?

The increase in dividend suggests PCB Bancorp's confidence in its financial position and commitment to shareholder returns.