First Horizon Declares Cash Dividends on Common and Preferred Stock

Rhea-AI Summary

First Horizon National Corp. (NYSE:FHN) has announced a quarterly cash dividend of $0.15 per share, payable on October 1, 2020, to shareholders on record by September 11, 2020. Additionally, various preferred stock dividends were approved: Series A, Series C, Series D, and Series E. The Series A dividend is $1,550.00 per share payable on October 13, 2020. Series C and D dividends are $165.00 and $305.00 respectively, both payable on November 2, 2020. The company's financial strength is reflected through these consistent dividend payments.

Positive

• Approval of a quarterly cash dividend of $0.15 per share, indicating a commitment to returning value to shareholders.
• Series A preferred stock dividend of $1,550.00 per share showcases strong support for preferred shareholders.
• Consistent dividend payments across multiple preferred stock series reinforce financial stability and confidence in ongoing profitability.

Negative

• None.

MEMPHIS, Tenn., July 28, 2020 (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 $0.15 per share. The dividend is payable October 1, 2020 to the common shareholders of record on September 11, 2020.

The board also approved payment of cash dividends on First Horizon’s Series A, Series C, Series D and Series E Preferred Stock as described in the following paragraphs.

The board approved payment of the 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 1/4,000th interest in a share of the Series A Preferred Stock. The dividend is payable October 13, 2020 to shareholders of record on September 28, 2020.

The board approved payment of the quarterly cash dividend of $165.00 per share on First Horizon’s 6.60% Fixed to Floating Non-Cumulative Perpetual Preferred Stock, Series C ("Series C Preferred Stock"). This equates to a cash dividend of $0.412500 per Depositary Share (NYSE:FHN PRC), which each represent a 1/400th interest in a share of the Series C Preferred Stock. The dividend is payable November 2, 2020 to shareholders of record on October 16, 2020.

The board approved payment of the semi-annual cash dividend of $305.00 per share on First Horizon’s 6.10% Fixed to Floating Non-Cumulative Perpetual Preferred Stock, Series D ("Series D Preferred Stock"). This equates to a cash dividend of $0.762500 per Depositary Share (NYSE:FHN PRD), which each represent a 1/400th interest in a share of the Series D Preferred Stock. The dividend is payable November 2, 2020 to shareholders of record on October 16, 2020.

The board approved payment of the quarterly cash dividend of $2,383.332 per share on First Horizon’s Non-Cumulative Perpetual Preferred Stock, Series E ("Series E Preferred Stock"). This equates to a cash dividend of $0.595833 per Depositary Share (NYSE:FHN PRE), which each represent a 1/4,000th interest in a share of the Series E Preferred Stock. The dividend is payable October 13, 2020 to shareholders of record on September 28, 2020 and covers the first dividend period that began on May 28, 2020.

About First Horizon
First Horizon National Corp. (NYSE:FHN), with $86 billion in assets, is a leading regional financial services company, dedicated to strengthening the lives of our associates, clients, shareholders, and communities. Headquartered in Memphis, TN, the banking subsidiary First Horizon Bank operates nearly 500 bank locations in 12 states across the Southeast. With more than 288 years of combined First Horizon Bank and IBERIABANK financial experience, the Company and its subsidiaries offer commercial, private banking, consumer, small business, wealth and trust management, retail brokerage, capital markets, fixed income, mortgage, and title insurance services. First Horizon is recognized as one of the nation's best employers by Fortune and Forbes magazines and a Top 10 Most Reputable U.S. bank. More information is available at www.FirstHorizon.com

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CONTACT:	Investor Relations, Ellen Taylor (901) 523-4450
	Investor Relations, Aarti Bowman, (901) 523-4017
	Media Relations, Silvia Alvarez, (901) 523-4465

FAQ

What is the dividend amount for FHN common stock?

The dividend amount for First Horizon National Corp. common stock is $0.15 per share.

When will FHN pay its quarterly dividend?

The quarterly dividend for FHN will be paid on October 1, 2020.

What are the payment dates for preferred stock dividends of FHN?

Preferred stock dividends for FHN will be paid on October 13, 2020, and November 2, 2020, depending on the series.

Who is eligible for the FHN dividend?

Shareholders of record on specific dates prior to the payment date are eligible for the dividends.

What is the significance of the dividend announcement for FHN investors?

The dividend announcement indicates financial stability and the company's dedication to returning profits to its shareholders.