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Shareholders' Equity | 6 Months Ended
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Jun. 30, 2026
Equity [Abstract] |
Shareholders' Equity | 16. Shareholders' Equity Comprehensive Capital Plan On May 13, 2026, our Board of Directors authorized a new share repurchase program pursuant to which KeyCorp may purchase up to $3.0 billion of KeyCorp common shares, through open market purchases, privately negotiated transactions, or other means, including through Rule 10b5-1 plans and other programs, at the discretion of management and on terms that management deems to be advisable. The new repurchase authorization replaced KeyCorp’s previous $1.0 billion share repurchase authorization. As contemplated by the Investment Agreement, dated as of August 12, 2024, between KeyCorp and Scotiabank, in February 2025, we entered into an agreement with Scotiabank to permit Scotiabank to participate, through a periodic “true-up” right, in any repurchase by KeyCorp of its common stock on a pro rata basis. During the second quarter of 2026, Key completed $341 million, or approximately 16 million shares, in share repurchases including $49 million, or approximately 2 million shares, from Scotiabank pursuant to our repurchase agreement described above. We also repurchased $1 million of shares related to equity compensation programs in the second quarter of 2026. Consistent with our capital plan, the Board declared a quarterly dividend of $.205 per Common Share for the second quarter of 2026. Preferred Stock The following table summarizes our preferred stock at June 30, 2026.
Preferred stock series | Amount outstanding (in millions) | Book value (net of capital surplus) | Shares authorized and outstanding | Par value | Liquidation preference | Ownership interest per depositary share | Liquidation preference per depositary share | Second quarter 2026 dividends paid per depositary share
5.000% Fixed-to-Floating Rate Perpetual Noncumulative Series D | $ | 525 |  | $ | 519 |  | 21,000 |  | $ | 1 |  | $ | 25,000 |  | 1/25th | $ | 1,000 |  | $ | 12.50 |
6.125% Fixed-to-Floating Rate Perpetual Noncumulative Series E | 500 |  | 490 |  | 500,000 |  | 1 |  | 1,000 |  | 1/40th | 25 |  | .382813 |
5.650% Fixed Rate Perpetual Noncumulative Series F | 425 |  | 412 |  | 425,000 |  | 1 |  | 1,000 |  | 1/40th | 25 |  | .353125 |
5.625% Fixed Rate Perpetual Non-Cumulative Series G | 450 |  | 435 |  | 450,000 |  | 1 |  | 1,000 |  | 1/40th | 25 |  | .351563 |
6.200% Fixed Rate Reset Perpetual Non-Cumulative Series H | 600 |  | 590 |  | 600,000 |  | 1 |  | 1,000 |  | 1/40th | 25 |  | .387500 |

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