KeyCorp To Temporarily Suspend Share Repurchase Program
CLEVELAND, March 17, 2020 /PRNewswire/ -- KeyCorp (NYSE: KEY) today announced it is joining the largest U.S. banks in temporarily suspending share repurchases through the second quarter of 2020 in response to the COVID-19 pandemic.
Key is well positioned with strong capital and liquidity and is committed to supporting our clients and communities, as well as the broader financial system, at this critical time.
Importantly, this announcement does not impact Key's dividend policy, and Key retains the option to reinstate the share repurchase program prior to June 30th, 2020, as circumstances warrant.
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 $145 billion at December 31, 2019. 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 over 1,000 branches and more than 1,400 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.
SOURCE KeyCorp
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