MEMPHIS, Tenn., Jan. 26, 2016 (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 $0.07 per share. The dividend is payable on April 1, 2016, to the common shareholders of record on March 11, 2016. This represents a 17% increase over the $0.06 per share quarterly cash dividend paid for the previous year and raises the regular annual common dividend rate from $0.24 per share to $0.28 per share.
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 April 11, 2016, to shareholders of record on March 24, 2016.
About First Horizon
The 4,300 employees of First Horizon National Corp. (NYSE:FHN) provide financial services through more than 175 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 Forbes, Working Mother and American Banker magazines. More information is available at www.FirstHorizon.com.
FHN-G