Banc of California Announces Quarterly Dividends
SANTA ANA, Calif.–(BUSINESS WIRE)–Banc of California, Inc. (NYSE: BANC), today announced that its Board of
Directors has declared a quarterly cash dividend of $0.06 per share on
its outstanding common stock, consistent with the Company’s previously
reported plan to reduce the quarterly dividend from $0.13 to $0.06 per
common share. The dividend will be payable on July 1, 2019 to
stockholders of record as of June 17, 2019. Based on the trading price
of [$14.16] as of close of market on May 14, 2019, the cash dividend
results in an annualized dividend yield of [1.69%].
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 $0.460938
per depositary share on the Company’s 7.375% Series D Non-Cumulative
Perpetual Preferred Stock. The dividend will be payable on June 17, 2019
to holders of record as of May 31, 2019. 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 June 17, 2019
to holders of record as of May 31, 2019. 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 32 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.
Contacts
INVESTOR RELATIONS INQUIRIES:
Banc of California, Inc.
John
A. Bogler, (855) 361-2262