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8-K - CURRENT REPORT - BANC OF CALIFORNIA, INC. | banc8k_feb152018.htm |
Exhibit
99.1
Banc of California Announces Quarterly Dividends
SANTA ANA, Calif., (February 15, 2018) –
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 April 2, 2018 to
stockholders of record as of March 15, 2018. Based on the trading
price of $20.30 as of close of market on February 14, 2018, the
cash dividend results in an annualized dividend yield of
2.56%.
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 March 15, 2018 to holders of record as of March 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 March 15, 2018 to holders of record as of March 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 March 15, 2018 to holders of record as of March 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.
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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.
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Source: Banc of California, Inc.
Investor Relations Inquiries:
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Media Inquiries:
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Banc of California, Inc.
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Abernathy MacGregor
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Timothy Sedabres, (855) 361-2262
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Ian Campbell / Joe Hixson / James Bourne, (213)
630-6550
idc@abmac.com / jrh@abmac.com / jab@abmac.com
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3 MacArthur Place • Santa
Ana, CA 92707 •
(949) 236-5250 • www.bancofcal.com