CLEVELAND, May 10, 2018 /PRNewswire/ -- KeyCorp (NYSE:
KEY) today held its annual meeting in Cleveland, OH, where it highlighted a strong
year in 2017 for the nearly 200-year-old institution.
Shareholders heard about how KeyBank is helping clients and
communities thrive and how the company is growing and continuing to
deliver on its commitment to create shareholder value.
"Key had a strong year in 2017. We delivered on our commitments
with a step change in performance including improved profitability
and returns. We are growing our business by adding and expanding
client relationships while investing for the future. And, most
important, we continued to help our clients and communities
thrive," said Beth Mooney, Chairman
and Chief Executive Officer, KeyCorp.
During the annual meeting, shareholders elected 15 nominees to
KeyCorp's Board of Directors, each with executive leadership
experience within a variety of national and international
organizations, across a number of industries. Board elections were
one of four proposals put before shareholders at the company's
annual meeting, held at One Cleveland Center in Cleveland, OH. As announced on May 9, 2018, the KeyCorp Board of Directors also
increased the dividend 14% to $.12
per common share from $.105 per
share. This represents the third dividend increase in the last 12
months and a 26% increase since the second quarter 2017.
Other proposals presented and approved by shareholders included
the appointment of Ernst & Young LLP as the company's
independent auditor for the 2018 fiscal year and an advisory
proposal on compensation of KeyCorp's named executive officers. A
shareholder proposal seeking to reduce the ownership threshold to
call a special shareholder meeting was presented but not
approved.
About KeyCorp
KeyCorp's roots trace back 190 years to Albany, New York. Headquartered in
Cleveland, Ohio, Key is one of the
nation's largest bank-based financial services companies, with
assets of approximately $137.0
billion at March 31, 2018.Key
provides deposit, lending, cash management, and investment services
to individuals and businesses in 15 states under the name KeyBank
National Association through a network of approximately 1,200
branches and more than 1,500 ATMs. Key also provides a broad range
of sophisticated corporate and investment banking products, such as
merger and acquisition advice, public and private debt and equity,
syndications and derivatives to middle market companies in selected
industries throughout the United
States under the KeyBanc Capital Markets trade name. For
more information, visit https://www.key.com/. KeyBank is Member
FDIC.
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995. Forward-looking statements can be identified by words such as
"outlook," "goal," "objective," "plan," "expect," "anticipate,"
"intend," "project," "believe," "estimate" and other words of
similar meaning. Forward-looking statements represent management's
current expectations and forecasts regarding future events. If
underlying assumptions prove to be inaccurate or unknown risks or
uncertainties arise, actual results could vary materially from
these projections or expectations. Factors that could cause Key's
actual results to differ from those described in the
forward-looking statements can be found in KeyCorp's Form 10-K for
the year ended December 31, 2017, as
well as in KeyCorp's subsequent SEC filings, all of which have been
filed with the Securities and Exchange Commission and are available
on Key's website (www.key.com/ir) and on the Securities and
Exchange Commission's website (www.sec.gov). Forward-looking
statements speak only as of the date they are made and Key does not
undertake any obligation to update the forward-looking statements
to reflect new information or future events.
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SOURCE KeyCorp