KeyCorp Pays about 30% Profit As Dividend

KeyCorp

revealed Thursday that its board declared a cash dividend of $0.085 per share on its outstanding common shares. This represented a 13% increase from the $0.075 share paid in the previous quarter. Also, the dividend payout ratio represented approximately 30 percent of its profit, which is high than the 23.0 percent payout ratio for the average five-year period. KeyCorp said that the dividend would be payable on June 15 to all its shareholders. The company has fixed the record date as May 31 to determine the eligible shareholders. The dividend provided 2.40 percent yield, which is higher than the 1.90 percent yield of the five-year average. Also, its dividend growth rate for the average five-year period was 62.05 percent while it was 14.52 percent for the three-year period. Aside from that the company said that a dividend of $1.9375 per share on its outstanding 7.750% Non-Cumulative Perpetual Convertible Preferred Stock, Series A, payable on June 15. It has also fixed the record date as May 31. On Thursday, the stock traded 1.52 percent down.