The Board of Directors for the Banc of California (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%.
