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First Horizon to pay dividend in stock

By Associated Press

July 18, 2008

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First Horizon National Corp. said Friday it will pay its regular quarterly dividend in shares of common stock.

The dividend rate is 3.0165 percent, which means 30.165 new shares will be distributed for every 1,000 shares held. The rate was determined to provide shareholders with new shares having a value of 20 cents for each share held, based on First Horizon's volume weighted average stock price on July 11 of $6.53 per share.

The dividend will be distributed on Oct. 1 to shareholders of record as of Sept. 12.

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