First Tennessee Increasing Quarterly Cash Dividend On Common Stock By 33%

Tuesday, January 23, 2018

First Horizon National Corp.'s (NYSE:FHN) is increasing its quarterly cash dividend on common stock by 33 percent. First Horizon’s board of directors has approved payment of a quarterly cash dividend on its common stock of $0.12 per share payable on April 2, 2018 to the common shareholders of record on March 9, 2018. The per-share quarterly cash dividend in 2017 was $0.09 so the increase raises the regular annual common dividend rate from $0.36 per share to $0.48 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 10, 2018, to shareholders of record on March 23, 2018.

In addition, the board of directors approved a new $250 million common share purchase program that will expire on January 31, 2020. Purchases will be made in the open market or through privately negotiated transactions and will be subject to market conditions, accumulation of excess equity, prudent capital management, and legal and regulatory restrictions. The new program is not tied to any compensation plan, and replaces an older general share purchase program. The board terminated the older program, which was originally announced in 2014, had approximately $190 million remaining in available share purchase authority, and was scheduled to expire on January 31, 2018.


18 Miller & Martin Attorneys Selected To 2018 Mid-South Super Lawyers And Rising Stars Lists

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New Hamilton County Businesses


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Here are the new business licenses from the County Clerk's office: 4 SEASONS LAWN AND LANDSCAPING JAMES JONES 4 LAWN AND LANDSCAPING SERVICE 121 PINE STREET SODDY DAISY TN 37379 8MAKIN ... (click for more)


Business

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Attorneys Matt Brock And Garth Best Named Midsouth Rising Stars

Attorneys Matt Brock and Garth Best, partners at the law firm of Best Hayduk Brock PLLC, in Chattanooga, were named as “2018 Rising Stars” for the Midsouth region. The two attorneys shared space for two years in the Flatiron Building before deciding to join forces in September of 2018 along with Andrea Hayduk. Mr. Brock has handled cases from simple speeding tickets to first-degree ... (click for more)

Breaking News

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Opinion

Thanks To First Volunteer Bank

Thank you to the Highway 58 branch of First Volunteer Bank. On behalf of the Ernie Pyle Chapter of the Military Order of the Purple Heart, I would like to express our appreciation to the manager and staff of the HIghway 58 Branch of First Volunteer Bank for putting on a Veterans Day lunch in the lobby of your bank on Friday, Nov. 9. It was a cold and rainy day and Army, Marines ... (click for more)

Roy Exum: ‘Easy Eddie’ & Butch

Not an hour’s drive from where I now sit is one of the best restaurants in all of Tennessee. Its been some years since I last ate supper at High Point, a legendary mansion restored to elegance by the current owners but, back in the ‘60s, I got a wide-eyed teenager’s peek at the place one Sunday afternoon. What’s this? 14-inch walls filled with sand to stop a G-man’s bullet? Escape ... (click for more)