LAFAYETTE, La., Oct. 19, 2018 /PRNewswire/ -- The Board of Directors of IBERIABANK Corporation (NASDAQ: IBKC) announced the declaration of a quarterly cash dividend of $0.41 per common share, an increase of approximately 5% compared to the common dividend declared on August, 2, 2018 and payable on October 26, 2018. The dividend is payable on January 25, 2019, to shareholders of record as of December 31, 2018.
Daryl G. Byrd, President and Chief Executive Officer, commented "We are once again pleased to provide an increase in our cash dividend on common stock. As we continue to produce strong financial performance and remain confident in our financial outlook, increasing the common dividend is one more way we continue to provide benefits to our shareholders. The two cent increase to our common dividend is our third increase in 2018."
This increased quarterly dividend level equates to an annualized dividend rate of $1.64 per common share. Based on the closing common stock price on October 18, 2018, of $75.30 per common share, the new indicated dividend yield on the Company's common stock would be 2.2%.
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 $4.2 billion, based on the NASDAQ Global Select Market closing common stock price on October 18, 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 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.
SOURCE IBERIABANK Corporation