First Horizon National (NYSE: FHN) declared a quarterly dividend of $0.12 per share, or $0.48 annualized. This is a 33.3% increase from the prior dividend of $0.09.

The dividend will be payable on April 2, 2018, to stockholders of record on March 9, 2018, with an ex-dividend date of March 8, 2018.

The annual yield on the dividend is 2.4 percent.

Share Repurchase Program

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.

For a dividend history and other dividend-related data on First Horizon National (FHN) click here.