The Board of Directors for the Banc of California (NYSE:BANC) has approved a quarterly dividend payout of $0.12 per share.

This is the same amount the company, a holding company for multiple banks including the Private Bank of California and Pacific Trust Bank, has paid its investors since January 2012, after boosting its amount 4.3% from $0.115 per share. The latest dividend amount will be payable on Oct. 1 to shareholders of record as of Sept. 16.

Annualized, Banc of California's dividend adds to $0.48 per share of common stock. As of the market's close on Sept. 5, the company's stock was trading at $13.62, which means its dividend currently yields 3.5%.


Fool contributor Caroline Bennett has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.