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

State Street Corporation (NYSE:STT) declared a quarterly dividend on Thursday, February 19th. Investors of record on Wednesday, April 1st will be given 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 raised its dividend payment by an average of 0.1%per year 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% meaning its dividend is sufficiently covered by earnings. Equities 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 Performance

Shares of STT stock traded down $0.33 during trading hours on Friday, hitting $127.54. The stock had a trading volume of 368,437 shares, compared to its average volume of 2,145,736. The stock’s 50 day moving average is $130.08 and its 200 day moving average is $120.41. State Street has a twelve month low of $72.81 and a twelve month high of $137.05. The firm has a market capitalization of $35.62 billion, a PE ratio of 13.52, a PEG ratio of 1.14 and a beta of 1.43. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.61 and a quick ratio of 0.59.

State Street (NYSE:STT) last issued its quarterly earnings data on Friday, January 16th. The asset manager reported $2.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.82 by $0.15. State Street had a net margin of 13.02% and a return on equity of 13.46%. The company had revenue of $3.67 billion for the quarter, compared to the consensus estimate of $3.57 billion. During the same period last year, the firm posted $2.60 EPS. State Street’s revenue for the quarter was up 7.5% on a year-over-year basis. As a group, research 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.