MEMPHIS, Tenn., Jan. 24, 2017 (GLOBE NEWSWIRE) -- First Horizon National Corp. (NYSE:FHN) is increasing its quarterly cash dividend on common stock by 29 percent. First Horizon’s board of directors approved payment of a quarterly cash dividend on its common stock of $0.09 per share payable April 3 to common shareholders of record on March 10. The per-share quarterly cash dividend in 2016 was $0.07. The 29 percent increase raises the regular annual common dividend rate from $0.28 per share to $0.36 per share.
The board also approved payment of a quarterly cash dividend of $1,550.00 per share on First Horizon’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 April 10 to shareholders of record on March 24.
About First Horizon
The 4,300 employees of First Horizon National Corp. (NYSE:FHN) provide financial services through more than 160 bank locations across Tennessee and the southern U.S. and 29 FTN Financial offices across the U.S. The company was founded during the Civil War in 1864 and has the 14th oldest national bank charter in the country. First Tennessee has the largest deposit market share in Tennessee and one of the highest customer retention rates of any bank in the country. 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 Working Mother and American Banker. More information is available at www.FirstHorizon.com.
CONTACT: First Horizon Investor Relations, Aarti Bowman, (901) 523-4017 First Horizon Media Relations, James Dowd, (901) 523-4305
Source:First Horizon National Corporation