San Diego-based Seacoast Commerce Banc Holdings, the parent company of Seacoast Commerce Bank, announced the company’s first regular quarterly cash dividend of $0.05 per common share.

According to a company news release, the board of directors made the announcement May 18 and the cash dividend may be payable on or about June 10 to shareholders of record as of the close of business on June 2.

Seacoast Commerce Banc Holdings is a bank holding company with a wholly-owned banking subsidiary, Seacoast Commerce Bank.