State Street Corporation Declares Quarterly Dividend of $0.84 (NYSE:STT)

State Street Corporation (NYSE:STT) announced a quarterly dividend on Wednesday, May 20th. Investors of record on Wednesday, July 1st will be paid a dividend of 0.84 per share by the asset manager on Monday, July 13th. This represents a c) dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend is Wednesday, July 1st.

State Street has increased its dividend payment by an average of 0.1%per year over the last three years and has raised its dividend every year for the last 13 years. State Street has a dividend payout ratio of 32.3% meaning its dividend is sufficiently covered by earnings. Research analysts expect State Street to earn $13.80 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 24.3%.

State Street Price Performance

Shares of NYSE STT opened at $153.91 on Thursday. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 1.04. The firm’s 50-day simple moving average is $138.59 and its 200 day simple moving average is $130.40. State Street has a fifty-two week low of $94.19 and a fifty-two week high of $156.18. The stock has a market cap of $42.60 billion, a P/E ratio of 15.61, a P/E/G ratio of 0.83 and a beta of 1.45.

State Street (NYSE:STT) last issued its quarterly earnings results on Friday, April 17th. The asset manager reported $2.84 EPS for the quarter, topping the consensus estimate of $2.64 by $0.20. State Street had a net margin of 13.47% and a return on equity of 14.22%. The firm had revenue of $3.80 billion for the quarter, compared to analysts’ expectations of $3.59 billion. During the same period in the previous year, the business earned $2.04 earnings per share. State Street’s revenue for the quarter was up 15.6% compared to the same quarter last year. Equities analysts expect that State Street will post 12.35 EPS for the current year.

State Street Company Profile

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.