LAFAYETTE, La., Aug. 2, 2018 /PRNewswire/ -- The Board of Directors of IBERIABANK Corporation (NASDAQ: IBKC) announced the declaration of a quarterly cash dividend of $0.39 per common share, an increase of approximately 3% compared to the common dividend paid on July 27, 2018. The dividend is payable on October 26, 2018, to shareholders of record as of September 28, 2018.
Daryl G. Byrd, President and Chief Executive Officer, commented, "We are pleased to provide another penny increase in our cash dividend this quarter to our common shareholders, our second increase in 2018, reflecting our solid financial performance, and our confidence in our financial outlook."
This increased quarterly dividend level equates to an annualized dividend rate of $1.56 per common share. Based on the closing common stock price on August 2, 2018, of $84.75 per common share, the indicated dividend yield on the Company's common stock was 1.8%.
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 $4.8 billion, based on the NASDAQ Global Select Market closing common stock price on August 2, 2018.
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 based in Lafayette, Louisiana with locations in 12 states. IBERIABANK Corporation and its predecessor organizations have served clients for 131 years.
SOURCE IBERIABANK Corporation