MEMPHIS, Tenn., July 21, 2015 (GLOBE NEWSWIRE) -- First Horizon National Corp.'s (NYSE:FHN) board of directors has approved payment of a quarterly cash dividend on its common stock of $.06 per share. The dividend is payable on Oct. 1, 2015, to the common shareholders of record on Sept. 11, 2015.
The board of directors has also approved payment of a quarterly cash dividend of $1,550.00 per share on FHN's Non-Cumulative Perpetual Preferred Stock, Series A ("Series A Preferred Stock"). This equates to a cash dividend of $0.387500 per Depositary Share (NYSE:FHN PrA), which each represent a 1/4000th interest in a share of the Series A Preferred Stock. The dividend is payable on Oct. 13, 2015, to the preferred shareholders of record on Sept. 28, 2015.
In addition, the board of directors expanded FHN's 2014 common share purchase program. The board added $100 million and an additional year. The program now covers a total of $200 million and will expire on Jan. 31, 2017. It has approximately $146 million in available share purchase authority. Purchases will continue to be made in the open market or through privately negotiated transactions and will be subject to market conditions, accumulation of excess equity, prudent capital management and legal and regulatory restrictions. The 2014 program is not tied to any compensation plan.
About First Horizon
The 4,300 employees of First Horizon National Corp. (NYSE:FHN) provide financial services through more than 170 bank locations in and around Tennessee and 26 FTN Financial Group offices in the U.S. The company was founded during the Civil War in 1864 and has the 14th oldest national bank charter in the country, and FTN Financial is a capital markets industry leader in fixed income sales, trading and strategies for institutional customers in the U.S. and abroad. First Horizon has been recognized as one of the nation's best employers by Forbes, Working Mother and American Banker magazines. More information is available at www.FirstHorizon.com.
CONTACT: Investor Relations, Aarti Bowman, (901) 523-4017 Media Relations, Jack Bradley, (901) 523-4813
Source:First Horizon National Corporation