Published on 5 Sep 2023 on Zacks via Yahoo Finance

Is KeyCorp (KEY) Worth a Watch for 7.1% Dividend Yield?

Solid dividend-yielding stocks are highly desirable amid uncertain economic conditions in the near term. One such stock from the banking industry is KeyCorp KEY.

Headquartered in Cleveland, OH, KEY provides wide range of financial products and services, operating in a widespread network of more than 956 branches. The bank has been increasing its quarterly dividend on a regular basis, with the last hike of 5.1% to 20.5 cents per share in November 2022.

Over the past five years, KeyCorp raised its dividend three times, with an annualized dividend growth rate of 3.9%. Considering the last day’s closing price of $11.56, the company’s dividend yield currently stands at 7.09%. This is impressive compared with the industry’s average of 4.21% and attractive for investors as it represents a steady income stream.