Ex-Div Reminder for First Horizon National Corp's Non-Cumulative Perpetual Preferred Stock, Series A

On 6/23/14, 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 7/10/14. As a percentage of FHN.PRA's recent share price of $24.12, this dividend works out to approximately 1.61%, so look for shares of FHN.PRA to trade 1.61% lower — all else being equal — when FHN.PRA shares open for trading on 6/23/14. On an annualized basis, the current yield is approximately 6.42%, which compares to an average yield of 5.52% in the "Financial" preferred stock category, according to Preferred Stock Channel.

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As of last close, FHN.PRA was trading at a 3.40% 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:

Performance Comparison Chart

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:

FHN.PRA+Dividend+History+Chart

According to the ETF Finder at ETF Channel, First Horizon National Corp ( FHN) makes up 1.87% of the SPDR S&P Bank ETF (KBE) which is trading lower by about 0.8% 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 off about 2.1%.

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