IRVINE, Calif., May 18, 2016 /PRNewswire/ -- Banc of
California, Inc. (NYSE: BANC),
today announced that its Board of Directors has declared a
quarterly cash dividend of $0.12 per
share on its outstanding common stock. The dividend will be
payable on July 1, 2016 to
stockholders of record as of June 15,
2016. Based on the trading price of $18.39 as of close of market on May 17, 2016, 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 depository share on the
Company's 8.00% Series C Non-Cumulative Perpetual Preferred
Stock. The dividend will be payable on June 15, 2016 to holders of record as of
June 1, 2016. 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, 2016 to holders of record as of
June 1, 2016. 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
$0.6128 per depository share on the
Company's 7.00% Series E Non-Cumulative Perpetual Preferred
Stock. The dividend will be payable on June 15, 2016 to holders of record as of
June 1, 2016. The Series E depositary
shares are traded on the New York Stock Exchange under the "BANC
PRE" symbol. This first quarterly dividend payment on the
Series E Preferred Stock is pro-rated for the period beginning with
the original issue date of February 8,
2016 and ending on June 14,
2016. Going forward, the quarterly dividend amount is
expected to be $0.4375 per depository
share on the Company's 7.00% Series E Perpetual Preferred
Stock.
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 over 100 offices in
California and the
West.
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.
|
Vectis
Strategies
|
Timothy Sedabres,
(855) 361-2262
|
David Herbst, (213)
973-4113 x101
|
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SOURCE Banc of California,
Inc.