Cash Dividend On The Way From Banc Of California Preferred Stock, Series A

On 8/22/24, Banc Of California Inc’s 7.75% Dep Shares Rate Reset Non-Cumul Preferred Stock, Series A (Symbol: BANC.PRF) will trade ex-dividend, for its quarterly dividend of $0.4845, payable on 9/3/24. As a percentage of BANC.PRF’s recent share price of $24.07, this dividend works out to approximately 2.01%, so look for shares of BANC.PRF to trade 2.01% lower — all else being equal — when BANC.PRF shares open for trading on 8/22/24. On an annualized basis, the current yield is approximately 7.97%, which compares to an average yield of 6.70% in the “Financial” preferred stock category, according to Preferred Stock Channel.
The chart below shows the one year performance of BANC.PRF shares, versus BANC:

Below is a dividend history chart for BANC.PRF, showing historical dividends prior to the most recent $0.4845 on Banc Of California Inc’s 7.75% Dep Shares Rate Reset Non-Cumul Preferred Stock, Series A:

In Tuesday trading, Banc Of California Inc’s 7.75% Dep Shares Rate Reset Non-Cumul Preferred Stock, Series A (Symbol: BANC.PRF) is currently off about 1.1% on the day, while the common shares (Symbol: BANC) are down about 1.5%.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.