MEMPHIS, Tenn., Oct. 16, 2007 (PRIME NEWSWIRE) -- First Horizon National Corp.'s (NYSE:FHN) (www.fhnc.com) board of directors has approved payment of the regular quarterly dividend of $.45 per share. The dividend is payable on Jan. 1, 2008, to shareholders of record on Dec. 14, 2007. This is the 445th consecutive quarter that First Horizon has paid a dividend.
In addition, the board of directors approved a 7.5 million share purchase authority that will expire on Dec. 31, 2010. Purchases will be made in the open market or through privately negotiated transactions and will be subject to market conditions, accumulation of excess equity and prudent capital management. The new authority is not tied to any compensation plan, and replaces an older non-plan share purchase authority. The board immediately terminated the older authority, which originally was announced on Oct. 19, 2000, had approximately 1.6 million shares remaining in available share purchase authority and was scheduled to expire on Dec. 31, 2007.
About First Horizon
The 11,000 employees of First Horizon National Corp. (NYSE:FHN) provide financial services to individuals and business customers through hundreds of offices located in more than 40 states. The corporation's three major brands -- FTN Financial, First Horizon and First Tennessee -- provide customers with a broad range of products and services including:
-- Capital markets, one of the nation's top underwriters of U.S.
government agency securities
-- Mortgage banking, one of the nation's top mortgage originators
and recipient of consecutive awards for servicing excellence
from Fannie Mae and Freddie Mac
-- Retail/commercial banking, with the largest market share in
Tennessee and one of the highest customer retention rates of any
bank in the country
FHN has been recognized as one of the nation's best employers by AARP, Working Mother and Fortune magazines. FHN also was named one of the nation's 100 best corporate citizens by CRO magazine. More information can be found at www.fhnc.com.
FHN-G