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KeyCorp to keep Q3 dividend at 18.5 cents

Jun. 30, 2020 7:32 AM ETKeyCorp (KEY) StockKEYBy: Liz Kiesche, SA News Editor1 Comment
  • KeyCorp's (NYSE:KEY) preliminary stress capital buffer is 2.5%, the minimum buffer required for banks of its size, as determined by the Fed. Other banks that also scored a preliminary 2.5% SCB are U.S. Bancorp, Citi, State Street, and Bank of America.
  • The final SCB will be released by the Fed before it takes effect in Q4 2020.
  • Plans to maintain its common stock dividend in Q3 2020 at the same level as Q2 (18.5 cents per share), subject to its board's approval.
  • "Our strong balance sheet, liquidity, and capital positions our company to weather adverse economic scenarios, while continuing to support our clients, invest in our business, and provide returns for our shareholders," said Chairman and CEO Chris Gorman.

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