What is the US tax status of FHNs quarterly cash dividend?
Generally for US taxpayers, FHN’s cash dividend is taxable as ordinary dividend income under federal tax laws. The tax laws of some states, such as Tennessee, treat interest and certain dividends paid by a bank more favorably than interest and dividends paid by non-bank corporations. Although FHN owns First Tennessee Bank, FHN is a bank holding company. Dividends paid on FHN’s common stock are not paid by a bank. This discussion is general in nature and is not to be considered tax advice. Please consult your personal tax advisor to address your specific situation.
