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KeyCorp Holds 2018 Annual Meeting

Meeting Focuses on Business Momentum While Delivering Results for Shareholders

Shareholders Re-elect Board

Company Release - 5/10/2018 9:37 AM ET

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.

KeyBank (PRNewsFoto/KeyCorp) (PRNewsfoto/KeyCorp)

"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