KeyCorp (NYSE:KEY) Declares 4Q Dividend Pay Out Plan


Dallas, Texas 12/04/2013 (Financialstrend) – The S&P 500 Index tracked KeyCorp (NYSE:KEY) with a market cap of $11.35 billion has been a strong performing bank which has repeatedly demonstrated its commitment to return share holder value. In a continued demonstration of this fact, the bank announced just before Thanksgiving week that it would be paying out dividends for its fourth quarter operations.

Each share holder of common stock of KeyCorp (NYSE:KEY) will be paid a cash dividend of $0.055 for every share they own. Share holders on record as of December 3 will be eligible for this payout. The payout will happen on December 13. In addition the directors have announced a healthy dividend of $1.9 per share for holders of Series A convertible stock which attract a 7.75% interest. The holders of these Series-A bonds as on record as of November 29 will be eligible for the payout and the payout will happen on December 16. Over the past 12 months, the bank has paid out a cumulative cash dividend of $0.22 per share translating to a dividend yield of 1.75%.

KeyCorp (NYSE:KEY) is a financial institution which traces its operations back 160 years has its head quarters in Cleveland. It boasts of assets worth close to $90 billion and had generated net income of $808 million with sales of $2.66 billion over the trailing 12 month period. Its operations include “merger and acquisition advice, public and private debt and equity, syndications and derivatives to middle market companies”.

In addition to regular income via dividends the bank has also managed to post significant gains in its market value over the past 12 months. KeyCorp (NYSE:KEY) stock has gained by a significant 60% in the past 12 months and by a impressive 8.1% during trading in the past 90 months. During trading on December 3, the stock was trading at $12.58 per share.