On 3/24/14, First Horizon National Corp's Non-Cumulative Perpetual Preferred Stock, Series A ( FHN.PRA) will trade ex-dividend, for its quarterly dividend of $0.3875, payable on 4/10/14. As a percentage of FHN.PRA's recent share price of $23.68, this dividend works out to approximately 1.64%, so look for shares of FHN.PRA to trade 1.64% lower — all else being equal — when FHN.PRA shares open for trading on 3/24/14. On an annualized basis, the current yield is approximately 6.55%, which compares to an average yield of 5.64% in the "Financial" preferred stock category, according to Preferred Stock Channel.As of last close, FHN.PRA was trading at a 5.20% discount to its liquidation preference amount. Investors should keep in mind that the shares are not cumulative, meaning that in the event of a missed payment, the company does not have to pay the balance of missed dividends to preferred shareholders before resuming a common dividend. The chart below shows the one year performance of FHN.PRA shares, versus FHN: Below is a dividend history chart for FHN.PRA, showing historical dividends prior to the most recent $0.3875 on First Horizon National Corp's Non-Cumulative Perpetual Preferred Stock, Series A: According to the ETF Finder at ETF Channel, First Horizon National Corp ( FHN) makes up 2.07% of the PowerShares KBW Regional Bank Portfolio ETF (KBWR) which is trading up by about 1.4% on the day Thursday. In Thursday trading, First Horizon National Corp's Non-Cumulative Perpetual Preferred Stock, Series A ( FHN.PRA) is currently off about 0.1% on the day, while the common shares ( FHN) are up about 2.1%.