PacWest Bancorp Announces Quarterly Dividend

Rhea-AI Summary

PacWest Bancorp has declared a quarterly cash dividend of $0.25 per common share, scheduled for payment on August 31, 2021. Stockholders must be on record by the close of business on August 17, 2021 to qualify for this dividend. Based in Los Angeles, with over $34 billion in assets, PacWest Bancorp operates Pacific Western Bank, which provides a range of banking products primarily to small and medium-sized businesses, including lending and treasury management services.

Positive

• Quarterly cash dividend of $0.25 per share enhances shareholder income.
• Solid assets of over $34 billion indicate financial stability.

Negative

• None.

News Market Reaction

+2.08%

1 alert

+2.08% News Effect

On the day this news was published, PACW gained 2.08%, reflecting a moderate positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

$0.25 Per Share Cash Dividend Payable on August 31, 2021 to Stockholders of Record on August 17, 2021

LOS ANGELES, Aug. 02, 2021 (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 August 31, 2021 to stockholders of record at the close of business on August 17, 2021.

ABOUT PACWEST BANCORP

PacWest Bancorp (“PacWest”) is a bank holding company with over $34 billion in assets headquartered in Los Angeles, California, with an executive office in Denver, Colorado, with one wholly-owned banking subsidiary, Pacific Western Bank (the “Bank”). The Bank has 70 full-service branches located in California, one branch located in Durham, North Carolina, and one branch located in Denver, Colorado. The Bank provides community banking products including 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. The Bank offers national lending products including asset-based, equipment, and real estate loans and treasury management services to established middle-market businesses on a national basis. The Bank also offers venture banking products including a comprehensive suite of financial services focused on entrepreneurial and venture-backed businesses and their venture capital and private equity investors, with offices located in key innovative hubs across the United States. For more information about PacWest Bancorp or Pacific Western Bank, visit www.pacwest.com.

CONTACTS

Matthew P. Wagner      President and CEO 303.802.8900

Bart R. Olson Executive Vice President and CFO 714.989.4149

William J. Black Executive Vice President Strategy and Corporate Development 919.597.7466

FAQ

What is the amount of the dividend declared by PACW?

PACW has declared a cash dividend of $0.25 per share.

When is the PACW dividend payable?

The PACW dividend is payable on August 31, 2021.

What is the record date for the PACW dividend?

The record date for the PACW dividend is August 17, 2021.

How does the PACW dividend impact shareholders?

The PACW dividend provides income for shareholders, reflecting the company's financial health.