First Horizon Corporation announced that its board of directors authorized a new $1 billion common stock repurchase program, effective October 29, 2024. This program replaces the prior authorization, which had approximately $174 million remaining, and is set to expire on January 31, 2026.
The board also declared a quarterly cash dividend of $0.15 per share on FHN's common stock, payable on January 2, 2025, to shareholders of record on December 13, 2024. This dividend amount remains consistent with previous declarations.
Chairman, President, and CEO Bryan Jordan stated that the strong capital position provides the ability to continue growing the balance sheet while returning excess capital to shareholders. The timing and amount of repurchases will be at the discretion of senior management, subject to various factors including capital position and market conditions.
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