LOS ANGELES, Feb. 13, 2014 (GLOBE NEWSWIRE) -- CapitalSource Inc. (NYSE:CSE) today announced a quarterly cash dividend of $0.01 per share on its common stock for the first quarter of 2014. The dividend will be payable on or about February 27, 2014 to shareholders of record on February 24, 2013. The ex-dividend date will be February 20, 2014.
Pursuant to section 5.19 of the Agreement and Plan of Merger ("Merger Agreement"), dated July 22, 2013, with PacWest Bancorp, CapitalSource agreed to coordinate the declaration, setting of record dates and payment dates of dividends in the calendar quarter in which the merger closed. Both parties expect the merger to be completed by March 31, 2014, so CapitalSource has declared its first quarter 2014 dividend to coincide with the first quarter dividend to be paid by PacWest.
CapitalSource Inc. (NYSE:CSE), through its wholly owned subsidiary CapitalSource Bank, makes commercial loans to small and middle-market businesses nationwide and offers depository products and services in 21 retail branches in southern and central California. CapitalSource, headquartered in Los Angeles, had total assets of $8.8 billion and total deposits of $6.1 billion as of September 30, 2013. For more information, visit www.capitalsource.com.
This release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, including certain plans, expectations, strategies, goals, and projections and including statements about our expectations regarding pending merger between the Company and PacWest, which are subject to numerous assumptions, risks, and uncertainties. All statements contained in this release that are not clearly historical in nature are forward-looking, and the words 'anticipate,' 'assume,' 'intend,' 'believe,' 'expect,' 'estimate,' 'forecast,' 'plan,' 'position,' 'project,' 'will,' 'should,' 'would,' 'seek,' 'continue,' 'outlook,' 'look forward,' and similar expressions are generally intended to identify forward-looking statements. All forward-looking statements (including statements regarding preliminary and future financial and operating results and future transactions and their results) involve risks, uncertainties and contingencies, many of which are beyond our control which may cause actual results, performance, or achievements to differ materially from anticipated results, performance or achievements. Actual results could differ materially from those contained or implied by such statements for a variety of factors, including without limitation: the ability to complete the pending merger between the Company and PacWest, including obtaining regulatory approvals; the possibility that regulatory approvals may not be received on expected timeframes or at all; changes in the Company's stock price before completion of the merger, including as a result of the financial performance of PacWest prior to closing; and other factors described in CapitalSource's 2012 Annual Report on Form 10-K and documents subsequently filed by CapitalSource with the Securities and Exchange Commission. All forward-looking statements included in this release are based on information available at the time of the release. We are under no obligation to (and expressly disclaim any such obligation to) update or alter our forward-looking statements, whether as a result of new information, future events or otherwise except as required by applicable law.
CONTACT: Investor Relations: Dennis Oakes Senior Vice President, Investor Relations & Corporate Communications (212) 321-7212 firstname.lastname@example.org Media Relations: Michael Weiss Director of Communications (301) 841-2918 email@example.comSource:CapitalSource, Inc.