KeyCorp sets dividend payouts, schedules annual meeting

CLEVELAND - KeyCorp (NYSE: NYSE:KEY) has declared dividends on its common and preferred shares for the first quarter of 2025, the company announced Thursday. Shareholders of the common stock will receive $0.205 per share, payable on March 14, 2025, to those on record by March 4, 2025. According to InvestingPro data, KeyCorp has maintained dividend payments for 53 consecutive years, with a current yield of 4.52%. The financial institution also announced payouts for several series of its preferred stock, all payable on March 17, 2025, to shareholders of record as of March 3, 2025.

The dividends declared for the preferred stocks are as follows: Series D at $312.50 per share, Series E at $15.3125 per share, Series F at $14.1250 per share, Series G at $14.0625 per share, and Series H at $15.50 per share. These dividends cover the period from December 15, 2024, to March 15, 2025.

Additionally, KeyCorp has scheduled its 2025 Annual Meeting of Shareholders for May 15, 2025. This announcement comes as part of the company's regular financial disclosures.

KeyCorp, with a history dating back nearly two centuries, is based in Cleveland, Ohio. As one of the largest bank-based financial services companies in the United States, KeyCorp boasts assets of about $190 billion as of September 30, 2024. The company, currently valued at $19.73 billion in market capitalization, has seen its stock rise 37.23% over the past year. Operating under KeyBank National Association, the company serves individuals and businesses with a variety of banking services through its extensive network of branches and ATMs. KeyCorp also offers corporate and investment banking solutions through KeyBanc Capital Markets. For detailed financial analysis and additional insights, investors can access the comprehensive Pro Research Report available on InvestingPro.

This financial update is based on a press release statement from KeyCorp.

In other recent news, KeyCorp has experienced several noteworthy developments. The bank announced the appointment of Mohit Ramani as its new Chief Risk Officer and Robert Weiss as Head of Key Family Wealth. Additionally, Scotiabank (TSX:BNS) has finalized the acquisition of a 14.9% stake in KeyCorp, marking a significant financial event for both institutions. The Federal Reserve Board has approved this acquisition, enhancing KeyCorp's capital position.

KeyCorp has reported a 7% quarter-over-quarter increase in net interest income during its third quarter of 2024 and projects a 20% increase in net interest income for 2025. On the analyst front, KeyCorp's stock has been downgraded from 'Buy' to 'Neutral' by Citi, while DA Davidson and RBC Capital Markets have raised their stock price targets for KeyCorp, citing strong growth prospects.

These are recent developments in KeyCorp's ongoing journey, reflecting the dynamic financial landscape faced by U.S. regional banks amid shifting work trends and evolving financial strategies. These new appointments, acquisitions, and projections are indicative of the bank's commitment to growth and risk management, as well as its adaptability in a complex economic environment.

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