First Horizon Expands Share Purchase Program and Increases Common Dividend by 17%
30 January 2019 - 8:15AM
First Horizon National Corp.’s (NYSE:FHN) board of directors today
expanded its 2018 common share purchase program and increased its
common dividend:
- The board amended the common share purchase program to provide
First Horizon with $250 million of additional share purchase
authority for a new total authorization of $500 million. The
program was also extended by one year to expire on January 31, 2021
and has approximately $400 million of remaining authorization.
1
- The board approved payment of a quarterly cash dividend on
First Horizon’s common stock of $0.14 per share, an increase of 17
percent from 2018. 1
- The board 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"). 1
1The 2018 share purchase program is not tied to any compensation
plan and purchases will continue to be made in the open market or
through privately negotiated transactions subject to market
conditions, accumulation of excess equity, prudent capital
management, and legal and regulatory restrictions. The common
dividend is payable on April 1, 2019 to the common shareholders of
record on March 15, 2019. The dividend on the Series A Preferred
Stock 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 and is payable April 10, 2019 to
shareholders of record on March 26, 2019.
About First HorizonFirst Horizon National Corp.
(NYSE:FHN) provides financial services through its First Tennessee,
Capital Bank, FTB Advisors, and FTN Financial businesses. First
Horizon operates approximately 300 bank locations across the
southern U.S. and 28 FTN Financial offices across the entire U.S.
Our banking subsidiary, founded in 1864, has the 14th oldest
national bank charter in the country. Our First Tennessee and
Capital Bank brands have the largest deposit market share in
Tennessee and one of the highest customer retention rates of any
bank in the country. American Banker Magazine has also ranked us,
as No. 5 among the Top 10 Most Reputable U.S. Banks. Our FTB
Advisors wealth management group has more than 300 financial
professionals and provides services to about $4.8 billion in assets
under management. FTN Financial is a capital markets industry
leader in fixed income sales, trading and strategies for
institutional customers in the U.S. and abroad. American Banker
magazine and the National Association for Female Executives have
also recognized the company as one of the nation’s best employers.
More information is available at www.FirstHorizon.com.
FHN-GCONTACT:
First
Horizon Investor Relations, Aarti Bowman, (901) 523-4017
First Horizon Media Relations,
Silvia Alvarez, (901) 523-4465
First Horizon (NYSE:FHN)
Historical Stock Chart
From Apr 2024 to May 2024
First Horizon (NYSE:FHN)
Historical Stock Chart
From May 2023 to May 2024