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BBCN Bancorp Increases Quarterly Cash Dividend 50 Percent

 

July 23 - BBCN Bancorp, Inc. (Nasdaq: BBCN) has announced that its board of directors declared a quarterly cash dividend of 8 cents per common share for the third quarter of 2013. This represents a 50 percent increase from the prior dividend of 5 cents per share for the 2013 second quarter. The dividend will be payable on or about Aug. 16, 2013, to all stockholders of record as of Aug. 2, 2013.

"Since the formation of BBCN in November 2011, the company has consistently delivered strong operational results, profitability and capital strength," said Kevin S. Kim, chairman and CEO. "The cash dividend increase reflects the board's confidence in the sustainability of this performance, as well as its commitment to building long-term shareholder value as the leading Korean-American bank in the nation."

About BBCN Bancorp Inc.
BBCN Bancorp Inc. is the holding company of BBCN Bank, one of the largest Korean-American bank in the nation with $5.9 billion in assets as of June 30, 2013. Headquartered in Los Angeles and serving a diverse mix of customers mirroring its communities, BBCN operates 45 branches in California, New York, New Jersey, Washington and Illinois, along with six loan production offices in Seattle, Denver, Dallas, Atlanta, Northern California and Annandale, Va. BBCN specializes in core business banking products for small and medium-sized businesses, with an emphasis in commercial real estate and business lending, SBA lending and international trade financing.


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