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Banking industry

IBERIABANK Declares 17th Consecutive Quarterly Dividend

Strategic Insights

— 1 min read

IBERIABANK, led by President and CEO Larrey G. Mouton, has announced a quarterly cash dividend of $.16 cents per share, representing a seven percent increase. This marks the bank's 17th consecutive quarterly dividend since its initial public offering in 1995. The dividend is payable to shareholders of record as of June 30, 1999, and will be distributed on July 14, 1999. The decision reflects the company's commitment to increasing shareholder value.

Key Takeaways:

  • IBERIABANK has declared a quarterly cash dividend of $.16 cents per share, representing a 7% increase from previous dividend.
  • This marks the bank's 17th consecutive quarterly dividend since its initial public offering in 1995.
  • The dividend is payable to shareholders of record as of June 30, 1999, and will be distributed on July 14, 1999.
  • The bank reported assets of $1.4 billion, deposits of $1.2 billion, and stockholders' equity of $123.8 million as of March 31, 1999.
  • IBERIABANK earned $.44 per diluted share for the three months ended March 31, 1999, compared to $.33 per diluted share for the same period in 1998.
  • On a cash basis, the bank earned $.55 per share in the first quarter of 1999, compared to $.39 per share in 1998.
  • IBERIABANK operates through 43 retail banking offices across Louisiana.
  • The bank's deposits are insured by the Federal Deposit Insurance Corporation to the full extent permitted by law and regulation.

Statistics:

  • Quarterly dividend: $.16 cents per share (7% increase)
  • Annual dividend rate: $.64 cents per share ($1.56 x 7%)
  • Assets as of March 31, 1999: $1.4 billion
  • Deposits as of March 31, 1999: $1.2 billion
  • Stockholders' equity as of March 31, 1999: $123.8 million (9.1% of assets)
  • Earnings per diluted share for Q1 1999: $.44 (compared to $.33 for Q1 1998)
  • Earnings on a cash basis for Q1 1999: $.55 per share (compared to $.39 for Q1 1998)

Sources:

  • PRNewswire, "IBERIABANK Announces Seven Percent Increase in Dividend" (June 17)
  • ISB Financial Corporation (Nasdaq: ISBF) press release (June 17)

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