LAFAYETTE, La., Jan. 28, 2020 /PRNewswire/ -- The Board of Directors of IBERIABANK Corporation (NASDAQ: IBKC) announced the declaration of a quarterly cash dividend of $0.47 per common share, an increase of approximately 4% compared to the common dividend paid on January 24, 2020. The dividend is payable on April 1, 2020, to shareholders of record as of March 13, 2020.
This increased quarterly dividend level equates to an annualized dividend rate of $1.88 per common share. Based on the closing common stock price on January 28, 2020 of $74.19 per common share, the indicated dividend yield on the Company's common stock would be 2.5%.
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 January 28, 2020.
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, commercial leasing and equipment financing, and title insurance services.
SOURCE IBERIABANK Corporation