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Banc Of California Non-Cumulative Perpetual Preferred Stock, Series E Ex-Dividend Reminder

On 8/28/20, Banc Of California Inc's 7.000% Non-Cumulative Perpetual Preferred Stock, Series E (Symbol: BANC.PRE) will trade ex-dividend, for its quarterly dividend of $0.4375, payable on 9/15/20. As a percentage of BANC.PRE's recent share price of $25.58, this dividend works out to approximately 1.71%, so look for shares of BANC.PRE to trade 1.71% lower — all else being equal — when BANC.PRE shares open for trading on 8/28/20. On an annualized basis, the current yield is approximately 6.90%, which compares to an average yield of 5.48% in the "Financial" preferred stock category, according to Preferred Stock Channel. The chart below shows the one year performance of BANC.PRE shares, versus BANC:

Performance Comparison Chart

Below is a dividend history chart for BANC.PRE, showing historical dividends prior to the most recent $0.4375 on Banc Of California Inc's 7.000% Non-Cumulative Perpetual Preferred Stock, Series E:

BANC.PRE+Dividend+History+Chart

In Wednesday trading, Banc Of California Inc's 7.000% Non-Cumulative Perpetual Preferred Stock, Series E (Symbol: BANC.PRE) is currently up about 0.9% on the day, while the common shares (Symbol: BANC) are off about 4.3%.

Click here to learn which S.A.F.E. dividend stocks also have preferred shares that should be on your radar screen »

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

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