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IBERIABANK's Preferred Stock, Series B Yield Pushes Past 6%

By Ru Back Packer Staff, Tuesday, January 16, 2:07 PM ET
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In trading on Tuesday, shares of IBERIABANK Corp's 6.625% Fixed-to-Floating Non-Cumulative Perpetual Preferred Stock, Series B (NASDAQ:IBKCP) were yielding above the 6% mark based on its semi-annual dividend (annualized to $1.6562), with shares changing hands as low as $27.29 on the day. This compares to an average yield of 5.57% in the "Financial" preferred stock category, according to Ru Back Packer. As of last close, IBKCP was trading at a 12.08% premium to its liquidation preference amount, versus the average premium of 5.97% in the "Financial" category. Investors should keep in mind that the shares are not cumulative, meaning that in the event of a missed payment, the company does not have to pay the balance of missed dividends to preferred shareholders before resuming a common dividend.

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 dividend payments on IBERIABANK Corp's 6.625% Fixed-to-Floating Non-Cumulative Perpetual Preferred Stock, Series B:


In Tuesday trading, IBERIABANK Corp's 6.625% Fixed-to-Floating Non-Cumulative Perpetual Preferred Stock, Series B (NASDAQ:IBKCP) is currently up about 0.9% on the day, while the common shares (NASDAQ:IBKC) are up about 1.4%.


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