LAFAYETTE, La., Jan. 6, 2020 /PRNewswire/ -- The Board of
Directors of IBERIABANK Corporation (NASDAQ: IBKC) announced the
declaration of a semi-annual cash dividend on the outstanding
shares of its 6.625% Fixed-to-Floating Non-Cumulative Perpetual
Preferred Stock, Series B, par value $1.00 per share (the "Series B Preferred
Stock").
On August 5, 2015, the Company issued an aggregate of
3,200,000 depositary shares (the "Depositary Shares"), each
representing a 1/400th ownership interest in a
share of the Series B Preferred Stock, with a liquidation
preference of $10,000 per share of Series B Preferred
Stock (equivalent to $25 per Depositary Share), which
represents $80,000,000 in aggregate liquidation
preference.
The declared cash dividend equated to
approximately $0.8281 per Depositary Share outstanding,
or $331.24 per share of Series B Preferred Stock
outstanding. The cash dividend is payable on February 3, 2020
to shareholders of record as of the close of business
on January 17, 2020. When, as, and if declared by the Board of
Directors, future dividends on the Series B Preferred Stock and
associated Depositary Shares will be payable semi-annually, in
arrears, on February 1, and August 1 of each year,
or the immediately succeeding Business Day, without interest or
other payment in respect of such delayed payment, if the payment
date is not a Business Day.
The Company's Series B Preferred Stock trades on the NASDAQ
Global Select Market under the symbol "IBKCP."
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.
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SOURCE IBERIABANK Corporation