First Horizon to redeem its series A preferred stock, depositary shares

By Rebecca Melvin

Concord, N.H., May 13 – First Horizon Corp. will redeem all of its outstanding shares of non-cumulative series A preferred stock and related depositary shares on July 10, according to a company release.

The redemption price will be $25.00 per series A depository share, corresponding to $100,000 per share of series A preferred stock. Accrued dividends will not be included in either redemption price because the redemption date is also a dividend payment date. The regular quarterly dividend, which was declared in April, will be paid separately on July 12 to shareholders of record at the close of business on June 25.

Equiniti Trust Co. (800 468-9716) is the redemption agent.

The financial holding company is based in Memphis.

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