LAFAYETTE, La., March 20, 2018 /PRNewswire/ -- The Board of
Directors of IBERIABANK Corporation (NASDAQ: IBKC) announced the
declaration of a quarterly cash dividend on the outstanding shares
of its 6.60% Fixed-to-Floating Non-Cumulative Perpetual Preferred
Stock, Series C, par value $1.00 per
share (the "Series C Preferred Stock").
On May 9, 2016, the Company issued
an aggregate of 2,300,000 depositary shares (the "Depositary
Shares"), each representing a 1/400th ownership interest
in a share of the Series C Preferred Stock, with a liquidation
preference of $10,000 per share of
Series C Preferred Stock (equivalent to $25 per Depositary Share), which represents
$57,500,000 in aggregate liquidation
preference.
The declared cash dividend equated to approximately $0.4125 per Depositary Share, or $165.00 per share of Series C Preferred Stock
outstanding. The cash dividend is payable on May 1, 2018, to shareholders of record as of the
close of business on April 16, 2018.
When, as, and if declared by the Board of Directors, future
dividend payment dates on the Series C Preferred Stock and
associated Depositary Shares will be payable quarterly, in arrears,
on February 1, May 1, August 1,
and November 1 of each year.
The Company's Series C Preferred Stock trades on the NASDAQ
Global Select Market under the symbol "IBKCO."
IBERIABANK Corporation is a financial holding company based in
Lafayette, Louisiana with
locations in 11 states. IBERIABANK Corporation and its predecessor
organizations have served clients for 131 years.
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SOURCE IBERIABANK Corporation