Corporate ActionMay 14, 2026, 04:08 PM
KeyCorp Authorizes $3.0B Buyback, Declares Dividends, Approves Equity Plan
AI Summary
KeyCorp's Board of Directors authorized a new share repurchase program of up to $3.0 billion, replacing the previous authorization. The Board also declared quarterly cash dividends for its common shares at $0.205 per share, and for various series of preferred stocks. Additionally, at the Annual Meeting, shareholders approved the 2026 Equity Compensation Plan, elected all fourteen nominated directors, and ratified Ernst & Young LLP as the independent auditors for 2026.
Key Highlights
- KeyCorp authorized a new share repurchase program for up to $3.0 billion of common shares.
- The new program replaces the existing $1.0 billion authorization, which had $280 million remaining.
- A quarterly cash dividend of $0.205 per common share was declared, payable June 15, 2026.
- Dividends were also declared for Series D, E, F, G, and H preferred stocks.
- Shareholders approved the 2026 Equity Compensation Plan.
- The 2026 Plan increased the annual non-employee director compensation limit from $500,000 to $750,000.
- All fourteen nominated directors were elected by shareholders at the Annual Meeting.
- Shareholders ratified Ernst & Young LLP as independent auditors for the 2026 fiscal year.