CLEVELAND, May 13, 2014 /PRNewswire/ -- KeyCorp (NYSE: KEY) announced today that its Board of Directors declared the following dividends for the second quarter of 2014:
- A cash dividend of $0.065 per share on the corporation's outstanding common shares. The dividend is payable June 13, 2014 to holders of record of such common shares as of the close of business on May 27, 2014
- A dividend of $1.9375 per share on the corporation's outstanding 7.750% Non-Cumulative Perpetual Convertible Preferred Stock, Series A, payable on June 16, 2014 to holders of record as of the close of business on May 30, 2014, for the period commencing on (and including) March 15, 2014 to (but excluding) June 15, 2014
"Key is delivering on its commitments to generate positive operating leverage, maintain our strong risk management practices, and remain disciplined in the way we manage capital," said Chairman and Chief Executive Officer Beth Mooney. "As Key delivers on these commitments, we are continuing to create shareholder value. Key's total estimated payout ratio through our planned capital actions is expected to be among the highest in our industry peer group for the second consecutive year."
About KeyCorpKeyCorp was organized more than 160 years ago and is headquartered in Cleveland, Ohio. One of the nation's largest bank-based financial services companies, Key had assets of approximately $90.8 billion at March 31, 2014.
Key provides deposit, lending, cash management and investment services to individuals and small and mid-sized businesses in 12 states under the name KeyBank National Association. Key also provides a broad range of sophisticated 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.For more information, visit https://www.key.com/. KeyBank is Member FDIC.