KeyCorp boosts quarterly dividend by 9 percent

KeyCorp (NYSE: KEY) — parent of KeyBank, which ranks No. 2 in deposit market share in the 16-county Central New York region — has raised its quarterly dividend by 9 percent.

The Cleveland, Ohio–based banking company announced on July 17 that that its board of directors has declared a cash dividend of 18.5 cents a share on its common shares outstanding. It will pay the dividend on Sept. 13, to holders of record as of the close of business on Aug. 27.

The new dividend amount is up from the 17 cents a share that Key paid last quarter and it marks the banking company’s second dividend increase in the last year.

KeyCorp, which says its roots trace back 190 years to Albany, has assets of more than $140 billion. KeyBank has more than 1,100 branches in 15 states. It operates several dozen branches in Central New York.