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) annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend is Wednesday, July 1st.

State Street has increased its dividend by an average of 0.1%per year over the last three years and has raised its dividend annually for the last 13 consecutive years. State Street has a payout ratio of 32.3% meaning its dividend is sufficiently covered by earnings. Equities 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 Trading Up 2.0%

Shares of NYSE STT opened at $153.91 on Thursday. The stock has a market cap of $42.60 billion, a price-to-earnings ratio of 15.61, a PEG ratio of 0.83 and a beta of 1.45. The business has a 50 day simple moving average of $138.59 and a 200 day simple moving average of $130.40. State Street has a 52 week low of $94.19 and a 52 week high of $156.18. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.57 and a current ratio of 0.57.

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