SANTA ANA, Calif., Aug. 15, 2018 /PRNewswire/ -- Banc of
California, Inc. (NYSE: BANC),
today announced that its Board of Directors has declared a
quarterly cash dividend of $0.13 per
share on its outstanding common stock. The dividend will be
payable on October 1, 2018 to
stockholders of record as of September
14, 2018. Based on the trading price of $19.98 as of close of market on August 14, 2018, the cash dividend results in an
annualized dividend yield of 2.61%.
Banc of California maintains a
Dividend Reinvestment Plan (DRIP) which allows stockholders to
automatically acquire shares at a 3% discount from the applicable
market price. All registered 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 through IR@bancofcal.com or at (855) 361-2262.
The Board of Directors also declared a quarterly dividend of
$0.50 per depositary share on the
Company's 8.00% Series C Non-Cumulative Perpetual Preferred
Stock. The dividend will be payable on September 17, 2018 to holders of record as of
August 31, 2018. The Series C
depositary shares are traded on the New York Stock Exchange under
the "BANC PRC" symbol.
The Board of Directors also declared a quarterly dividend of
$0.460938 per depositary share on the
Company's 7.375% Series D Non-Cumulative Perpetual Preferred
Stock. The dividend will be payable on September 17, 2018 to holders of record as of
August 31, 2018. The Series D
depositary shares are traded on the New York Stock Exchange under
the "BANC PRD" symbol.
The Board of Directors also declared a quarterly dividend of
$0.4375 per depositary share on the
Company's 7.00% Series E Non-Cumulative Perpetual Preferred
Stock. The dividend will be payable on September 17, 2018 to holders of record as of
August 31, 2018. The Series E
depositary shares are traded on the New York Stock Exchange under
the "BANC PRE" symbol.
About Banc of California,
Inc.
Banc of California,
Inc. (NYSE: BANC) provides comprehensive banking services to
California's diverse businesses,
entrepreneurs and communities. Banc of California operates 34 offices in California.
Forward-Looking Statements
This press release includes
forward-looking statements within the meaning of the "Safe-Harbor"
provisions of the Private Securities Litigation Reform Act of 1995.
These statements are necessarily subject to risk and uncertainty
and actual results could differ materially from those anticipated
due to various factors, including those set forth from time to time
in the documents filed or furnished by Banc of California, Inc. with the Securities and
Exchange Commission. You should not place undue reliance on
forward-looking statements and Banc of California, Inc. undertakes no obligation to
update any such statements to reflect circumstances or events that
occur after the date on which the forward-looking statement is
made.
Investor Relations
Inquiries:
|
Media
Inquiries:
|
Banc of California,
Inc.
|
Abernathy
MacGregor
|
John A. Bogler, (855)
361-2262
|
Ian Campbell / James
Bourne / Sarah Dhanaphatana, (213) 630-6550
idc@abmac.com /
jab@abmac.com / skd@abmac.com
|
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SOURCE Banc of California,
Inc.