Published on 18 Jun 2024 on Simply Wall St. · via Yahoo Finance
Don't Buy Banc of California, Inc. (NYSE:BANC) For Its Next Dividend Without...
It looks like Banc of California, Inc. (NYSE:BANC) is about to go ex-dividend in the next 4 days. The ex-dividend date is one business day before a company's record date, which is the date on which the company determines which shareholders are entitled to receive a dividend. The ex-dividend date is of consequence because whenever a stock is bought or sold, the trade takes at least two business day to settle. Therefore, if you purchase Banc of California's shares on or after the 14th of June, you won't be eligible to receive the dividend, when it is paid on the 1st of July.
The upcoming dividend for Banc of California will put a total of US$0.10 per share in shareholders' pockets. Dividends are an important source of income to many shareholders, but the health of the business is crucial to maintaining those dividends. We need to see whether the dividend is covered by earnings and if it's growing.