KeyCorp Holds Annual Meeting

CLEVELAND, May 21, 2015 /PRNewswire/ -- KeyCorp (NYSE: KEY) today announced at its annual meeting that shareholders can expect the company to remain "Focused Forward" in 2015 and continue to deliver on its strategic priorities, drive profitable growth, and effectively manage both risk and capital.   

"We delivered on our commitments in 2014," said Beth Mooney, CEO and Chairman, KeyCorp.  "Key acquired and expanded client relationships, drove growth in loans and fee income, and improved productivity and efficiency, all while remaining disciplined with risk and capital.  I am proud of our results and accomplishments on behalf of our shareholders, clients, and employees."

During the annual meeting, shareholders elected 14 nominees to Key's Board of Directors, each with significant experience in a variety of national and international organizations across a number of industries. Additionally, Bruce Broussard, CEO and Chairman of Humana, Inc., a leading health and well-being company, was elected to the Board for the first time.  "Bruce is a seasoned, thoughtful leader and a financially astute executive who believes strongly in giving back to the community," said Mooney.

Mooney told attendees that by returning 82% of net income to shareholders in 2014, Key has maintained one of the highest shareholder payouts among peers.  Mooney also discussed that Key recently received a "non-objection" from the Federal Reserve on its 2015 capital plan which includes up to $725 million in share repurchases during the next five quarters. As part of this capital plan, on May 13, 2015 the Board approved an increase in Key's quarterly common stock dividend by 15%.

Shareholders also ratified the appointment of Ernst & Young LLP as the company's independent auditor for the 2015 fiscal year and approved an advisory proposal on compensation of KeyCorp's named executive officers. A shareholder proposal which requested the Board separate the Chairman and Chief Executive Officer roles at Key was also presented and not approved by a majority of shareholders.

KeyCorp was organized more than 160 years ago and is headquartered in Cleveland, Ohio.  One of the nation's largest bank-based financial services companies, Key had assets of approximately $94 billion at March 31, 2015. Key provides deposit, lending, cash management and investment services to individuals and small and mid-sized businesses under the name KeyBank National Association.  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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http://www.key.com