SANTA ANA, Calif., May 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 July 2, 2018 to
stockholders of record as of June 15,
2018. Based on the trading price of $18.70 as of close of market on May 14, 2018, the cash dividend results in an
annualized dividend yield of 2.78%.
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 depository share on the
Company's 8.00% Series C Non-Cumulative Perpetual Preferred
Stock. The dividend will be payable on June 15, 2018 to holders of record as of
June 1, 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 depository share on the
Company's 7.375% Series D Non-Cumulative Perpetual Preferred
Stock. The dividend will be payable on June 15, 2018 to holders of record as of
June 1, 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 depository share on the
Company's 7.00% Series E Non-Cumulative Perpetual Preferred
Stock. The dividend will be payable on June 15, 2018 to holders of record as of
June 1, 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
|
Timothy Sedabres,
(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.