On November 17, 2022, Financial services company KeyCorp (KEY) announced that it will raise its quarterly dividend by 5.1 percent to 20.5 cents per share. This will mark 12 straight years of dividend growth by KEY. Last year Keycorp announced a 5.4% dividend hike.
The dividend is payable on December 15, 2022, to holders of record of such Common Shares as of the close of business on November 29, 2022. A new annualized dividend rate of 82 cents per share yields 4.4% at a stock price of $18.61.
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.