Business Context and Reporting Period
This Form 8-K Current Report was filed by Banc of California, Inc. on August 22, 2013. The filing reports a corporate event regarding the declaration of a dividend on the company's Series C Preferred Stock.
Key Financial Metrics
The filing does not provide comprehensive financial statements, revenue, profit, cash flow, or debt metrics. The only specific financial data disclosed relates to the dividend declaration:
- Dividend Amount: $802,666.67 (aggregate for the quarter).
- Security: Series C Preferred Stock.
- Annualized Yield: 8% on the liquidation preference amount.
- Payment Date: September 16, 2013.
- Record Date: September 1, 2013.
Material Changes
The filing does not report material changes to the company's financial position, operations, or capital structure compared to prior periods, other than the scheduled dividend payment on the Series C Preferred Stock.
Guidance, Outlook, and Risks
The filing contains no management commentary, forward-looking guidance, or discussion of risks and contingencies. It is a routine notification of a dividend payment.
Investor Verification Checklist
- Verify the record date of September 1, 2013, to confirm eligibility for the dividend.
- Confirm the payment date of September 16, 2013, for cash flow planning.
- Review the attached press release (Exhibit 99.1) for any additional context regarding the Series C Preferred Stock issuance.