MEMPHIS, Tenn., July 20, 2004 (PRIMEZONE) -- Today, First Horizon National Corporation's board of directors approved payment of the regular quarterly dividend of $.40 per share. The dividend is payable on Oct. 1 to shareholders of record on Sept. 10. This is the 432nd consecutive quarter that First Horizon (NYSE:FHN) has paid a dividend.
The board of directors also renewed its prior approval of the purchase of 2.9 million shares of First Horizon's common stock for use in connection with the 1990 Stock Option Plan and 1991 Bank Advisory Director Deferral Plan, because the authorizations for purchase had expired. The purchases will occur from time to time during the life of the options granted under the plan, which is approximately 13 years. 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.
About First Horizon
The 12,000 employees of First Horizon National Corp. (NYSE:FHN) provide financial services to individual and business customers through hundreds of offices located in more than 40 states. The corporation's three major brands -- FTN Financial, First Horizon Home Loans and First Tennessee -- provide customers with a broad range of products and services including:
- Capital Markets, with one of the nation's top underwriters of U.S. government agency securities - Mortgage Banking, with one of the nation's top 15 mortgage originators and servicers, which earned a top-10 ranking in customer satisfaction from J.D. Power and Associates - 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 companies have been recognized as some of the nation's best employers by AARP, Working Mother, Business Week and Fortune magazines. FHN also was named one of the nation's 100 best corporate citizens by Business Ethics magazine. More information can be found at www.FirstHorizon.com.