Banc of California Declares Series F Dividend
The bank's board set a quarterly payment of $0.4845 per Series F preferred depositary share, payable December 1.
Updated on Nov. 8, 2026 in Banking
Banc of California declared a quarterly dividend of $0.4845 on its Series F preferred depositary shares, which trade on the New York Stock Exchange under ticker BANC/PF. The board declared the dividend on November 6, matching the amount of its previous quarterly dividend declared August 7.
Why it matters
The unchanged payout signals the board's continued commitment to its preferred shareholders at the same level as the prior quarter. Because Series F preferred stock ranks ahead of common stock for dividends and liquidation preference, these holders are positioned ahead of common shareholders in any distribution.
The quarterly dividend is $0.4845 per depositary share, unchanged from the prior quarter declared August 7, with each share representing a 1/40 interest in one preferred share. The source does not indicate whether the board plans to keep this rate in future quarters, and the dividend is non-cumulative, meaning missed payments would not later be made up.
The players
Banc of California
A California-based regional bank holding company that issues preferred stock to raise capital and returns it to shareholders through quarterly dividends.
The details
Banc of California's board declared the dividend on November 6, and holders must be on the books at the close of business November 19 to qualify. The Series F depositary shares trade on the New York Stock Exchange under ticker BANC/PF, and the preferred stock generally carries no voting rights.
Timeline
August 7: Previous quarterly dividend was declared.
November 6: Board declared the Series F quarterly dividend.
November 19: Record date for holders qualifying for the dividend.
December 1: Series F dividend payment date.
Market Dynamics
Regional banks have leaned on preferred stock issuance to strengthen capital since the 2023 banking-sector stress, and Banc of California's flat quarterly payout fits that pattern of holding preferred dividends steady. The unchanged $0.4845 rate suggests the bank is maintaining, rather than expanding, its preferred commitments in the current rate environment.
Holders of Banc of California's Series F depositary shares will receive $0.4845 per share on December 1 if they are on the books by November 19. Because the dividend is non-cumulative, investors counting on preferred income should note that a skipped payment would not be recovered later.
The takeaway
Investors in bank preferred stock should track record dates closely, since qualifying depends on ownership by the close of business on the record date and non-cumulative payouts cannot be recovered if skipped.
What happens next
The Series F dividend is scheduled to be paid December 1 to holders of record as of November 19.
Further reading
Explore more banking news coverage for context on how regional lenders manage their capital and shareholder payouts.
Source note: This article includes information reported by TokenPost.
