KeyCorp's (KEY) board has increased quarterly cash dividend to $0.05 per share from $0.03 per share, payable on June 15, 2012 to shareholders of record at the close of business on May 29, 2012. Also, the board approved a cash dividend of $1.9375 per share on the Corporation's outstanding 7.750% Non-Cumulative Perpetual Convertible Preferred Stock, Series A, to holders of record as of the close of business on May 31, 2012, for the period commencing on and including March 15, 2012 to but excluding the dividend payable date of June 15, 2012.
During KeyCorp's annual meeting, shareholders also elected all of the company's 14 nominees to the KeyCorp board; ratified the appointment of Ernst & Young as the company's independent auditors; and approved, with over 95% of the vote, a proposal on compensation of named executive officers.
In a separate, non-binding advisory vote, shareholders approved a proposal requesting the company's board to adopt a policy requiring an independent, non-executive chairman of the board.
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