banc of california inc shares were up 6 to 1806 after the company said its board of directors has declared a quarterly cash dividend of 10 cents a share from 6 cents last quarter the new dividend represents an increase of 4 cents a share or 67 over the dividend paid in the previous quarter the dividend will be payable april 3 to stockholders of record as of march 15 the company also announced that its board has authorized the repurchase of up to 35 million of its common stock the repurchase authorization expires in february 2024 banc of california stock hit its 52week low of 1486 on dec 16 and is down 8 in the past twelve months