Banc of California raises dividend 67%, announces $35M share buyback program

Banc of California announced that its Board of Directors has declared a quarterly cash dividend of 10c per share on its outstanding common stock. This dividend represents an increase of 4c per share, or 66.7%, over the dividend paid in the previous quarter. The dividend will be payable on April 3 to stockholders of record as of March 15. The company also announced that its Board of Directors has authorized the repurchase of up to $35M of the company’s common stock.