PacWest Bancorp Announces Quarterly Dividends

Rhea-AI Summary

PacWest Bancorp declares quarterly cash dividends on common shares and preferred stock

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• PacWest Bancorp declares a quarterly cash dividend of $0.01 per common share
• PacWest Bancorp declares a quarterly cash dividend of $0.4845 per depositary share on its 7.75% Fixed Rate Reset Non-Cumulative Perpetual Preferred Stock, Series A

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• None.

LOS ANGELES, Aug. 02, 2023 (GLOBE NEWSWIRE) -- PacWest Bancorp (Nasdaq: PACW) announced today that its Board of Directors has declared a quarterly cash dividend of $0.01 per common share. The cash dividend is payable on August 31, 2023 to stockholders of record at the close of business on August 15, 2023.

The Board of Directors also declared a quarterly cash dividend of $0.4845 per depositary share on its 7.75% Fixed Rate Reset Non-Cumulative Perpetual Preferred Stock, Series A. The dividend will be payable September 1, 2023 to stockholders of record as of August 15, 2023. The Series A depositary shares are traded on the Nasdaq Stock Exchange under the “PACWP” symbol.

ABOUT PACWEST BANCORP

PacWest Bancorp (“PacWest”) is a bank holding company headquartered in Los Angeles, California, with an executive office in Denver, Colorado, with one wholly-owned banking subsidiary, Pacific Western Bank (the “Bank”). Pacific Western Bank is a relationship-based community bank focused on providing business banking and treasury management services to small, middle-market, and venture-backed businesses. The Bank offers a broad range of loan and lease and deposit products and services through full-service branches throughout California and in Durham,North Carolina and Denver, Colorado, and loan production offices around the country. For more information about PacWest Bancorp or Pacific Western Bank, visit www.pacwest.com.

CONTACTS

Kevin L. Thompson Executive Vice President, Chief Financial Officer 303.802.8934

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

FAQ

What is the dividend declared by PacWest Bancorp on its common shares?

PacWest Bancorp has declared a quarterly cash dividend of $0.01 per common share.

What is the dividend declared by PacWest Bancorp on its preferred stock?

PacWest Bancorp has declared a quarterly cash dividend of $0.4845 per depositary share on its 7.75% Fixed Rate Reset Non-Cumulative Perpetual Preferred Stock, Series A.

When will the dividends be payable?

The cash dividend on common shares will be payable on August 31, 2023, and the dividend on preferred stock will be payable on September 1, 2023.

What is the record date for the dividends?

The record date for both dividends is August 15, 2023.

What is the symbol for the Series A depositary shares?

The Series A depositary shares are traded on the Nasdaq Stock Exchange under the symbol 'PACWP'.