12 Best Dividend Stocks Under $30

6. KeyCorp (NYSE:KEY)

Share Price as of the Close of January 30: $18.03

KeyCorp (NYSE:KEY) is an American retail banking company that offers a wide range of retail and commercial banking services to its consumers. In the fourth quarter of 2024, the company’s earnings per share and revenue were affected by the previously announced completion of the company’s securities portfolio repositioning. On an adjusted basis, revenue increased by 16% year-over-year and 11% sequentially. Net interest income rose 10% compared to the previous quarter, while adjusted fees saw a significant increase over comparable periods. The company achieved positive operating leverage on a year-over-year basis for the second consecutive quarter. In addition, net charge-offs declined by 26% quarter-over-quarter, while criticized loans were reduced by 7%.

KeyCorp (NYSE:KEY) has been shifting toward a more balanced growth approach in consumer banking, supported by the expansion of its digital banking capabilities. The company secured a strategic investment from Scotiabank, highlighting a notable opportunity for growth and financial stability. This capital infusion enhances the company’s financial flexibility, allowing it to advance key strategic initiatives, particularly the repositioning of its securities portfolio.

On January 16, KeyCorp (NYSE:KEY) declared a quarterly dividend of $0.205 per share, which was in line with its previous dividend. Overall, the company has never missed a dividend since 1985, which makes it one of the best dividend stocks on our list. The stock supports a dividend yield of 4.56%, as of January 30.

The number of hedge funds tracked by Insider Monkey owning stakes in KeyCorp (NYSE:KEY) grew to 41 in Q3 2024, from 38 in the previous quarter. The consolidated value of these stakes is over $757.5 million.