MEMPHIS, Tenn., Jan. 26, 2009 (GLOBE NEWSWIRE) -- First Horizon National Corp.'s (NYSE:FHN) board of directors has approved distribution on April 1, 2009, to holders of its common stock, the regular quarterly dividend payable in common stock. The dividend rate will be 2.6673 percent, which means that 26.673 new dividend shares will be distributed for every 1,000 shares held on the record date of March 13, 2009.
The dividend rate was determined to provide shareholders with new shares having a value of 20 cents for each share held on the record date, based on First Horizon's volume-weighted average stock price on Jan. 15 of $7.4983 per share.
Dividend shares, including any fractional shares, will be issued electronically and distributed to shareholders of record in direct registration form through First Horizon's transfer agent. Each record shareholder will receive a statement indicating the number of dividend shares deposited in his or her account. Paper stock certificates for whole shares will be available upon request from our transfer agent.
First Horizon's board also approved payment of the 5 percent quarterly cash dividend on the Fixed Rate Cumulative Perpetual Preferred Stock, Series CPP, issued to the U.S. Treasury. That dividend is payable on Feb. 15, 2009, to the holder of record Jan. 23, 2009.
About First Horizon
The 6,000 employees of First Horizon National Corp. (NYSE:FHN) provide financial services through more than 200 bank locations in and around Tennessee and 14 capital markets offices in the U.S. and abroad. First Tennessee Bank has the largest combined market share in the 17 Tennessee counties where it does business and has one of the higher customer retention rates of any bank in the country. FTN Financial is an industry leader in fixed income sales, trading and strategies for institutional clients in the U.S. and abroad. FTN Financial also provides equity research and correspondent services and formulated strategic client services. FHN has been recognized as one of the nation's best employers by AARP and Working Mother magazines. More information can be found at www.fhnc.com.
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