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.
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SOURCE KeyCorp