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KeyCorp hikes dividend by 41.7%

Financial services company KeyCorp (KEY) will raise its quarterly dividend by 41.7 percent to $0.17 per share in the third quarter of 2018. This marks the second dividend hike by KEY this year and the third dividend increase in the past 12 months.

The next dividend is payable on September 14, 2018 to holders of record of such common shares as of the close of business on August 28, 2018. The new dividend yield for KEY is 3.4% and 2018 marks the 8th consecutive year of dividend increases.

Headquartered in Cleveland, Ohio, KeyCorp is a bank-based financial services company. KeyCorp provides deposit, lending, cash management, and investment services to individuals and businesses in 15 states under the name KeyBank National Association through a network of branches ATMs. The company also provides corporate and investment banking products, such as merger and acquisition advice, public and private debt and equity, syndications, and derivatives to middle market companies in selected industries throughout the United States under the KeyBanc Capital Markets trade name.