LAFAYETTE, La., July 17, 2019 /PRNewswire/ -- The Board of
Directors of IBERIABANK Corporation (NASDAQ: IBKC) announced the
declaration of a quarterly cash dividend of $0.45 per common share, payable on
October 25, 2019, to shareholders of
record as of September 30, 2019.
The announced quarterly cash dividend represents an increase of
approximately 5% compared to the prior quarterly cash dividend
declared by the Board on May 8, 2019,
and payable on July 26, 2019. In
total, declared common dividends for 2019 will represent a 13%
increase in common dividends paid in 2018.
Daryl G. Byrd, President and
Chief Executive Officer, commented, "Our Company continues to
achieve strong financial results. The increase in the
quarterly cash dividend is another way to provide our shareholders
enhanced returns on their investments. The two cent increase to our cash dividend on common
stock is our second increase in 2019."
This increased quarterly dividend level equates to an annualized
dividend rate of $1.80 per common
share. Based on the closing common stock price on July 17, 2019, of $74.42 per common share, the new indicated
dividend yield on the Company's common stock would be 2.3%.
The Company's common stock trades on the NASDAQ Global Select
Market under the symbol "IBKC". The Company's common stock market
capitalization was approximately $3.9
billion, based on the NASDAQ Global Select Market closing
common stock price on July 17,
2019.
IBERIABANK Corporation common shareholders may take advantage of
the Company's Dividend Reinvestment Plan. This program provides a
convenient, economical way for common shareholders to increase
their holdings of the Company's common stock. Common stock
shareholders pay no brokerage commissions or service charges while
participating in the plan.
Shareholders may enroll in IBERIABANK Corporation's common stock
Dividend Reinvestment Plan through the Investor Center at
www.computershare.com, or by completing an enrollment form.
Enrollment forms and a summary of the plan are available from
Computershare by calling (800) 368-5948.
IBERIABANK Corporation is a financial holding company with
locations in Louisiana,
Arkansas, Tennessee, Alabama, Texas, Florida, Georgia, South
Carolina, North Carolina,
Mississippi, Missouri, and New
York offering commercial, private banking, consumer, small
business, wealth and trust management, retail brokerage, mortgage,
and title insurance services.
View original content to download
multimedia:http://www.prnewswire.com/news-releases/iberiabank-corporation-increases-cash-dividend-on-common-stock-by-5-300887060.html
SOURCE IBERIABANK Corporation