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Share Name | Share Symbol | Market | Type |
---|---|---|---|
State Street Corporation | NYSE:STT | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
1.19 | 1.63% | 74.39 | 74.42 | 73.48 | 73.91 | 1,623,099 | 01:00:00 |
State Street Corporation (NYSE: STT) today announced its third quarter 2021 cash dividend of $0.57 per share of common stock, an increase of 10% from $0.52 per share of common stock in the prior quarter. The dividend is payable on October 12, 2021 to common shareholders of record at the close of business on October 1, 2021.
Additionally, State Street’s Board of Directors has approved a new common stock purchase program, authorizing the purchase of up to $3.0 billion of its common stock over the six quarters beginning in the third quarter of 2021 and continuing through the fourth quarter of 2022.
“As we continue to invest in our business for future growth, the SCB framework provides us with increased flexibility to deploy our capital,” said Chairman and Chief Executive Officer Ron O’Hanley. “The continued strength of our balance sheet, coupled with our solid performance under this year’s annual stress test, has positioned us well to increase our dividend and announce a new common stock repurchase program,” O’Hanley added.
Stock purchases may be made using various types of transactions, including open-market purchases, accelerated share repurchases or other transactions off the market, and may be made under Rule 10b5-1 trading programs. The timing and amount of any stock purchases and the type of transaction will depend on several factors, including investment opportunities, State Street’s capital position, its financial performance, market conditions and the amount of common stock issued as part of employee compensation programs. The common stock purchase program does not have specific price targets and may be suspended at any time.
About State Street Corporation
State Street Corporation (NYSE: STT) is one of the world's leading providers of financial services to institutional investors including investment servicing, investment management and investment research and trading. With $40.3 trillion in assets under custody and/or administration and $3.6 trillion* in assets under management as of March 31, 2021, State Street operates globally in more than 100 geographic markets and employs approximately 39,000 worldwide. For more information, visit State Street's website at www.statestreet.com.
* Assets under management as of March 31, 2021 includes approximately $60 billion of assets with respect to SPDR® products for which State Street Global Advisors Funds Distributors, LLC (SSGA FD) acts solely as the marketing agent. SSGA FD and State Street Global Advisors are affiliated.
Forward Looking Statements
This News Release contains forward-looking statements within the meaning of United States securities laws, including statements about our goals and expectations regarding our plans to return capital to shareholders, including intentions for common stock dividends and share repurchases, as well as regarding our business, financial and capital condition, results of operations, strategies, the financial and market outlook, governmental and regulatory initiatives and developments, and the business environment. Forward-looking statements are often, but not always, identified by such forward-looking terminology as “outlook,” “guidance,” “expect,” “priority,” “objective,” “intend,” “plan,” “forecast,” “believe,” “anticipate,” “estimate,” “seek,” “may,” “will,” “trend,” “target,” “strategy” and “goal,” or similar statements or variations of such terms. These statements are not guarantees of future performance, are inherently uncertain, are based on current assumptions that are difficult to predict and involve a number of risks and uncertainties. Therefore, actual outcomes and results may differ materially from what is expressed in those statements, and those statements should not be relied upon as representing our expectations or beliefs as of any time subsequent to the time this News Release is first issued.
Important factors that may affect future results and outcomes include, but are not limited to:
Other important factors that could cause actual results to differ materially from those indicated by any forward-looking statements are set forth in our 2020 Annual Report on Form 10-K and our subsequent SEC filings. We encourage investors to read these filings, particularly the sections on risk factors, for additional information with respect to any forward-looking statements and prior to making any investment decision. The forward-looking statements contained in this News Release should not by relied on as representing our expectations or beliefs as of any time subsequent to the time this News Release is first issued, and we do not undertake efforts to revise those forward-looking statements to reflect events after that time.
View source version on businesswire.com: https://www.businesswire.com/news/home/20210715006010/en/
Ilene Fiszel Bieler +1 617-664-3477
Carolyn Cichon +1 617-664-8672
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