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IBERIABANK Corp's 6.625% Fixed-to-Floating Non-Cumulative Perpetual Preferred Stock, Series B Goes Ex-Dividend Soon


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On 1/16/18, IBERIABANK Corp's 6.625% Fixed-to-Floating Non-Cumulative Perpetual Preferred Stock, Series B (Symbol: IBKCP) will trade ex-dividend, for its semi-annual dividend of $0.8281, payable on 2/1/18. As a percentage of IBKCP's recent share price of $28.23, this dividend works out to approximately 2.93%, so look for shares of IBKCP to trade 2.93% lower - all else being equal - when IBKCP shares open for trading on 1/16/18. On an annualized basis, the current yield is approximately 5.90%, which compares to an average yield of 5.49% in the "Financial" preferred stock category, according to Preferred Stock Channel . The chart below shows the one year performance of IBKCP shares, versus IBKC:

Performance Comparison Chart

Below is a dividend history chart for IBKCP, showing historical dividends prior to the most recent $0.8281 on IBERIABANK Corp's 6.625% Fixed-to-Floating Non-Cumulative Perpetual Preferred Stock, Series B:

IBKCP+Dividend+History+Chart

According to the ETF Finder at ETF Channel, IBERIABANK Corp (Symbol: IBKC) makes up 2.07% of the PowerShares KBW Regional Banking Portfolio ETF ( KBWR ) which is trading higher by about 0.5% on the day Friday.

In Friday trading, IBERIABANK Corp's 6.625% Fixed-to-Floating Non-Cumulative Perpetual Preferred Stock, Series B (Symbol: IBKCP) is currently up about 0.6% on the day, while the common shares (Symbol: IBKC) are up about 1%.

Click here to learn which S.A.F.E. dividend stocks also have preferred shares that should be on your radar screen »

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.



This article appears in: Investing , Investing Ideas
Referenced Symbols: KBWR , IBKCP , IBKC


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