PacWest Bancorp Announces Quarterly Dividend

Rhea-AI Summary

PacWest Bancorp (PACW) has declared a quarterly cash dividend of $0.25 per share, scheduled for payment on December 10, 2020. This dividend will benefit stockholders of record as of November 30, 2020. With assets exceeding $28 billion, PacWest operates primarily through its subsidiary, Pacific Western Bank, which maintains a substantial presence in California and additional branches in North Carolina and Colorado. This dividend reinforces the company's commitment to returning value to its shareholders.

Positive

• Declared a cash dividend of $0.25 per share, enhancing shareholder value.
• Strong financial position with over $28 billion in assets.

Negative

• None.

News Market Reaction – PACW

-5.36%

1 alert

-5.36% News Effect

On the day this news was published, PACW declined 5.36%, reflecting a notable negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

$0.25 Per Share Cash Dividend Payable on December 10, 2020 to Stockholders of Record on November 30, 2020

LOS ANGELES, Nov. 10, 2020 (GLOBE NEWSWIRE) -- PacWest Bancorp (Nasdaq: PACW) announced today that its Board of Directors has declared a quarterly cash dividend of $0.25 per common share. The cash dividend is payable on December 10, 2020 to stockholders of record at the close of business on November 30, 2020.  

ABOUT PACWEST BANCORP

PacWest Bancorp (“PacWest”) is a bank holding company with over $28 billion in assets with one wholly-owned banking subsidiary, Pacific Western Bank (the “Bank”). The Bank has 71 full-service branches located in California, one branch located in Durham, North Carolina, and one branch located in Denver, Colorado. Our Community Banking group provides lending and comprehensive deposit and treasury management services to small and medium-sized businesses conducted primarily through our California-based branch offices and Denver, Colorado branch office. We offer additional products and services through our National Lending and Venture Banking groups. National Lending provides asset-based, equipment, and real estate loans and treasury management services to established middle market businesses on a national basis. Venture Banking offers a comprehensive suite of financial services focused on entrepreneurial or venture-backed businesses and their venture capital and private equity investors, with offices located in key innovation hubs across the United States. For more information about PacWest Bancorp or Pacific Western Bank, visit www.pacwest.com.

Contact information:
Matt Wagner, President and Chief Executive Officer, (303) 802-8900
Bill Black, Executive Vice President, Strategy and Corporate Development, (919) 597-7466 

FAQ

What is the dividend amount for PacWest Bancorp (PACW)?

The dividend amount is $0.25 per share.

When is the dividend payable for stockholders of PacWest Bancorp (PACW)?

The dividend is payable on December 10, 2020.

What is the record date for the dividend payment for PacWest Bancorp (PACW)?

The record date for the dividend payment is November 30, 2020.

How often does PacWest Bancorp (PACW) pay dividends?

PacWest Bancorp typically pays dividends on a quarterly basis.

How does the dividend impact PacWest Bancorp (PACW) shareholders?

The dividend provides a return on investment, enhancing shareholder income.