KeyCorp (KEY) Announces Accelerated $585M Share Buyback
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Key Sells Indirect Retail Auto Loan Portfolio; Enters Into Accelerated Share Repurchase Program
September 10, 2021 5:18 PM EDTCLEVELAND, Sept. 10, 2021 /PRNewswire/ -- KeyCorp (NYSE: KEY) announced today that KeyBank has sold its indirect retail auto loan portfolio and that KeyCorp has entered into an accelerated share repurchase (ASR) program.
"We are committed to returning capital to our shareholders and our share repurchase program is an important part of that commitment," said Don Kimble, Chief Financial Officer of KeyCorp. "The ASR transaction, which was aided by the capital generated from the sale of the indirect retail auto loan portfolio, further demonstrates our commitment to maximizing shareholder value."
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