NEW YORK ( TheStreet) -- KeyCorp's ( KEY) board of directors approved a regular quarterly cash dividend for the first quarter of 2011 of a penny per share, or four cents per share on an annualized basis.

The dividend will be payable on March 15, 2011, according to the press release.

The bank will release earnings on January 25, 2011. With the recent announcement of Fifth Third Bank's ( FITB) TARP repayment, analysts will be likely to question if KeyCorp will also be making a similar move. Analysts expect KeyCorp to report an EPS of 13 cents a share, according to Thomson Reuters.

--Written by Maria Woehr in New York.

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