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IBERIABANK (IBKC) Rewards Shareholders With 5% Dividend Hike

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IBERIABANK Corporation IBKC has raised its quarterly common stock dividend by about 5% to 43 cents per share. The dividend will be paid on Apr 26, to shareholders of record as of Mar 29, 2019.

IBERIABANK’s robust business model reflects the company’s commitment toward returning value to shareholders with its strong cash-generation capabilities. Since 2016, the company has raised its dividend six times. Prior to this revision, the company had raised its quarterly dividend to 41 cents per share last October, marking a 5% hike.

The bank also has an active share-repurchase plan in place. In November 2018, the company announced a new share-buyback plan with authorization to repurchase 2.765 million shares, representing around 5% of the total shares outstanding.

With strong liquidity and balance-sheet position, we believe IBERIABANK will continue to reward its shareholders, moving ahead.

Some other finance stocks which raised their dividends during the current quarter include First Horizon National Corp. FHN, Comerica (CMA - Free Report) and Wintrust Financial Corporation WTFC. First Horizon raised its quarterly dividend by 17%, while Comerica increased by 12%. Also, Wintrust Financial has announced a 31.6% rise in its common stock dividend.

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