Banc of California, Inc. Updates Shareholders on Dividends
Banc of California, Inc. (NYSE: BANC) has recently made an important announcement regarding its dividends, signifying its ongoing commitment to delivering value to shareholders. The Board of Directors has declared a quarterly cash dividend of $0.10 per share on its outstanding common stock. This showcases the company’s dedication to rewarding its stockholders consistently.
Details of the Cash Dividends
The dividend is set to be payable on April 1 to all stockholders of record as of March 14. This dividend is a reflection of Banc of California’s strength and stability in the banking sector. Additionally, the Board of Directors has declared a separate quarterly cash dividend of $0.4845 per depositary share on its 7.75% Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series F. This will be payable on March 3 to stockholders of record as of February 19, ensuring various shareholder profiles benefit from the company's support.
Empowering Shareholders Through Dividend Reinvestment
To further enhance shareholder engagement, Banc of California offers a Dividend Reinvestment Plan (DRIP). This initiative enables common stockholders to acquire additional shares at a 3% discount from the market price. The plan encourages investors to increase their holdings while also promoting long-term investment in the company. All registered holders with accounts at the company’s transfer agent, Computershare, can easily enroll in the DRIP program.
Contact and Enrollment Steps
For detailed information regarding the DRIP or to participate, interested shareholders can reach out to the Investor Relations team. They can contact Investor Relations via email or by phone, as detailed in the company's official communication channels.
About Banc of California, Inc.
Banc of California, Inc. is a well-established bank holding company, boasting over $33 billion in assets. It operates as the parent company of Banc of California, a prominent presence in the banking industry. The bank focuses on relationship-based business banking, catering to small and middle-market businesses, as well as venture-backed firms.
Comprehensive Banking Services
Through its extensive network of 80 branches across California and regional offices nationwide, Banc of California provides a variety of loan and deposit products tailored to meet the diverse needs of its clients. The bank also prides itself on offering cutting-edge payment processing solutions via its subsidiary, Deepstack Technologies, enhancing operational efficiency for businesses.
Community Commitment
The company's commitment to community service goes beyond banking. Through various initiatives and programs, the Banc of California Charitable Foundation supports financial literacy, job training, and affordable housing projects. Their involvement strengthens community ties and demonstrates the bank's dedication to making a positive impact.
Frequently Asked Questions
What dividends has Banc of California declared?
Banc of California declared a quarterly cash dividend of $0.10 per share on common stock and $0.4845 per depositary share on preferred stock, Series F.
When will the dividends be payable?
The payable date for the common stock dividend is April 1, while the preferred stock dividend will be payable on March 3.
How can I participate in the Dividend Reinvestment Plan?
Shareholders can participate in the DRIP by ensuring their registration with Computershare, the company’s transfer agent, for automatic share acquisition at a discount.
What services does Banc of California provide?
Banc of California offers banking and treasury management services, full-stack payment solutions, and a range of loan and deposit products primarily for businesses.
How does Banc of California support the community?
The Banc of California Charitable Foundation focuses on community support through initiatives that promote financial literacy, affordable housing, and job training.
