PacWest Bancorp Announces Increased Quarterly Dividend
24 April 2018 - 10:40PM
PacWest Bancorp (Nasdaq:PACW) announced today that its Board of
Directors has declared a quarterly cash dividend of $0.60 per
common share, an increase from $0.50 per common share declared last
quarter. The cash dividend is payable on May 31, 2018 to
stockholders of record at the close of business on May 21,
2018.
Matt Wagner, President and CEO of PacWest Bancorp, stated “Our
current level of profitability and confidence in continued strong
financial performance support this increase in our quarterly
dividend. We are pleased to continue to make current income an
important component of shareholder return.”
ABOUT PACWEST BANCORP
PacWest Bancorp (“PacWest”) is a bank holding company with
approximately $24 billion in assets with one wholly-owned banking
subsidiary, Pacific Western Bank (the “Bank”). The Bank has 74
full-service branches located throughout the state of California
and one branch in Durham, North Carolina. We provide commercial
banking services, including real estate, construction, and
commercial loans, and comprehensive deposit and treasury management
services to small and medium-sized businesses. We offer additional
products and services through our CapitalSource and Square 1 Bank
divisions. Our CapitalSource Division provides asset-based,
equipment, real estate and security cash flow loans and treasury
management services to established middle market businesses on a
national basis. Our Square 1 Bank Division offers a comprehensive
suite of financial services focused on entrepreneurial 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, visit
www.pacwestbancorp.com, or to learn more about Pacific Western
Bank, visit www.pacificwesternbank.com.
Contact information:Don D. Destino, Executive Vice President,
Corporate Development and Investor Relations, (310) 887-8521
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