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KeyCorp Raises Dividend 10%

KeyCorp (NYSE:KEY), which agreed to buy a portion of Bank of America's (NYSE:BAC) $110 billion commercial mortgage servicing rights last week, raised its quarterly dividend on Thursday by 10%.The Cleveland-based provider of mortgage financing lifted its quarterly cash dividend to 5.5 cents a share, payable on June 14 to shareholders of record on May 28."The action … is yet another example of how we are meeting our commitment to deliver shareholder value," KeyCorp CEO Beth Mooney said in a statement.The company, which also purchased last week virtually all of the third-party CMBS and special servicing rights from BofA's global mortgage and securities products business, said Thursday it received no objection to its request for an additional capital distribution, which included a share buyback program of up to $426 million.  KeyCorp is looking to issue share buybacks using after-tax proceeds realized on the pending sale of Victory Capital Management and Victory Capital Advisors, which is ...

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  1. KeyCorp Expands Commercial Mortgage Servicing With Deal

    KeyCorp (KEY) agreed to acquire the rights to service a $110.5 billion commercial mortgage portfolio from Bank of America Corp. (BAC), as it looks to increase revenu...

  2. KeyCorp To Buy Mortgage Servicing Rights From BofA

    KeyCorp (KEY) agreed to purchase certain commercial mortgage servicing rights from Bank of America Corp. (BAC), a deal that will make KeyCorp's commercial mortgage s...

  3. Correction to KeyCorp Commercial Mortgage Story

    "KeyCorp To Buy Some Commercial Mortgage Servicing Rights From Bank of America," at 8:36 a.m. EDT, misstated the first name of the head of KeyBank real estate capita...

  4. BofA Unloads Some Mortgage Service Rights

    Bank of America (NYSE:BAC) struck a deal late Thursday to sell a portion of its $110 billion commercial mortgage servicing rights portfolio to Keycorp (NYSE:KEY) in ...

  5. KeyCorp to Buy Some Commercial Mortgage Servicing Rights From Bank of America

    KeyCorp (KEY) agreed to purchase certain commercial mortgage servicing rights from Bank of America Corp. (BAC), a deal that will make KeyCorp's commercial mortgage s...

  6. BofA sells $110 billion CMBS servicing rights portfolio to KeyBank

    Bank of America Corp will sell a commercial mortgage servicing rights portfolio valued at around $110 billion to a KeyCorp unit for an undisclosed amount, the latest...

  7. Does a Rally Still Count if Led by Defensive Stocks?

    As Mike Ditka and just about any other Hall of Fame football coach will tell you, the best offense is often a good defense.Just don't try telling that to the bears, ...

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