State Street Corporation (STT) to Issue Quarterly Dividend of $0.92 on October 13th

State Street Corporation (NYSE:STT) announced a quarterly dividend on Tuesday, July 14th. Shareholders of record on Thursday, October 1st will be given a dividend of 0.92 per share by the asset manager on Tuesday, October 13th. This represents a c) dividend on an annualized basis and a yield of 2.0%. The ex-dividend date is Thursday, October 1st. This is a 9.5% increase from State Street’s previous quarterly dividend of $0.84.

State Street has increased its dividend payment by an average of 0.1%annually over the last three years and has increased its dividend annually for the last 13 consecutive years. State Street has a payout ratio of 32.3% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect State Street to earn $14.19 per share next year, which means the company should continue to be able to cover its $3.36 annual dividend with an expected future payout ratio of 23.7%.

State Street Price Performance

STT stock opened at $186.88 on Thursday. State Street has a 1 year low of $102.81 and a 1 year high of $186.99. The firm has a market capitalization of $51.72 billion, a PE ratio of 18.95, a price-to-earnings-growth ratio of 0.95 and a beta of 1.42. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.57 and a quick ratio of 0.57. The business has a 50 day simple moving average of $164.44 and a 200-day simple moving average of $143.46.

State Street (NYSE:STT) last released its quarterly earnings data on Friday, April 17th. The asset manager reported $2.84 earnings per share for the quarter, topping analysts’ consensus estimates of $2.64 by $0.20. State Street had a return on equity of 14.22% and a net margin of 13.47%.The company had revenue of $3.80 billion for the quarter, compared to analyst estimates of $3.59 billion. During the same quarter in the previous year, the company posted $2.04 earnings per share. The firm’s revenue for the quarter was up 15.6% compared to the same quarter last year. Equities research analysts anticipate that State Street will post 12.75 earnings per share for the current fiscal year.

About State Street

State Street Corporation is a global financial services company that provides a range of investment servicing, investment management and investment research and trading services to institutional investors. Its principal activities include custody and fund administration, securities lending, performance and risk analytics, trading and execution services, and foreign exchange. The company also offers investment management through State Street Global Advisors, a major provider of exchange-traded funds and institutional investment strategies.

State Street serves a broad client base of asset managers, insurance companies, pension funds, endowments, and other institutions across North America, Europe, Asia and other global markets.