First Horizon Declares Dividends on Series B and Series C Preferred Stock

Rhea-AI Summary

First Horizon National Corp. (NYSE:FHN) has announced a semi-annual cash dividend of $0.828125 per Depositary Share on its 6.625% Fixed to Floating Non-Cumulative Perpetual Preferred Stock, Series B, payable on August 3, 2020. Additionally, the company declared a quarterly cash dividend of $0.4125 per Depositary Share on the 6.60% Fixed to Floating Non-Cumulative Perpetual Preferred Stock, Series C, also payable on August 3, 2020. Both dividends are for shareholders of record by July 17, 2020.

Positive

• Approval of a semi-annual dividend of $0.828125 per Depositary Share enhances shareholder income.
• Quarterly dividend of $0.4125 per Depositary Share supports investor confidence.

Negative

• None.

MEMPHIS, Tenn., July 06, 2020 (GLOBE NEWSWIRE) -- First Horizon National Corp.'s (NYSE:FHN) board of directors has authorized payment of the semi-annual cash dividend of $331.25 per share on First Horizon’s 6.625% Fixed to Floating Non-Cumulative Perpetual Preferred Stock, Series B ("Series B Preferred Stock"). This equates to a cash dividend of $0.828125 per Depositary Share (NYSE:FHN PRB), which each represent a 1/400th interest in a share of the Series B Preferred Stock. The dividend is payable August 3, 2020 to shareholders of record on July 17, 2020.

The board has also authorized 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 $0.4125 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 August 3, 2020 to shareholders of record on July 17, 2020.

About First Horizon

First Horizon National Corp. (NYSE:FHN), with $79 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 approximately 460 bank locations in 11 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