First Horizon authorizes $1.2 billion share buyback program

First Horizon Corporation (NYSE: FHN) announced its board of directors has authorized a new $1.2 billion common stock repurchase program, replacing the company's previous program that had approximately $180 million remaining.

The new authorization became effective at the close of business on October 27 and will expire on January 31, 2027. The terminated program was set to expire on January 31, 2026.

The board also declared a quarterly cash dividend of $0.15 per share on common stock, payable on January 2, 2026, to shareholders of record at the close of business on December 12, 2025.

"Our strong capital position and capital generation support our ability to grow our balance sheet and return excess capital to our shareholders," said Chairman, President and Chief Executive Officer Bryan Jordan.

Share repurchases may be executed in the open market or through privately negotiated transactions, including under Rule 10b5-1 plans and accelerated share repurchase arrangements. The timing and amount of repurchases will be at management's discretion based on factors including capital position, financial performance, market conditions and regulatory considerations.

The company also declared quarterly dividends on its preferred stock series. Series C preferred stock will receive $165.00 per share, equivalent to $0.4125 per depositary share. Series E preferred stock will receive $1,625.00 per share, equivalent to $0.40625 per depositary share. Series F preferred stock will receive $1,175.00 per share, equivalent to $0.29375 per depositary share.

First Horizon Bank's Class A Non-Cumulative Perpetual Preferred Stock will receive a quarterly dividend of $13.15736 per share.

The Memphis-based company reported $83.2 billion in assets as of September 30, 2025, and operates through its banking subsidiary First Horizon Bank in 12 states concentrated in the southern United States.

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