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

State Street Corporation (NYSE:STT) declared a quarterly dividend on Thursday, February 19th. Shareholders of record on Wednesday, April 1st will be paid a dividend of 0.84 per share by the asset manager on Monday, April 13th. This represents a c) dividend on an annualized basis and a yield of 2.6%. The ex-dividend date is Wednesday, April 1st.

State Street has increased its dividend by an average of 0.1%annually over the last three years and has raised its dividend annually for the last 13 consecutive years. State Street has a dividend payout ratio of 32.3% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect State Street to earn $10.76 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 31.2%.

State Street Stock Up 0.1%

Shares of NYSE STT traded up $0.07 during trading on Friday, reaching $127.94. The company had a trading volume of 406,593 shares, compared to its average volume of 2,146,852. State Street has a 12-month low of $72.81 and a 12-month high of $137.05. The company has a quick ratio of 0.59, a current ratio of 0.61 and a debt-to-equity ratio of 1.04. The business’s 50-day moving average is $130.08 and its 200 day moving average is $120.41. The stock has a market cap of $35.73 billion, a PE ratio of 13.59, a P/E/G ratio of 1.14 and a beta of 1.43.

State Street (NYSE:STT) last announced its quarterly earnings results on Friday, January 16th. The asset manager reported $2.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.82 by $0.15. The company had revenue of $3.67 billion for the quarter, compared to analysts’ expectations of $3.57 billion. State Street had a net margin of 13.02% and a return on equity of 13.46%. State Street’s revenue was up 7.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.60 EPS. As a group, equities analysts forecast that State Street will post 9.68 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.