State Street Corporation Announces a $0.24 Dividend; 33% Increase from Prior Quarter's Dividend; Authorization to Purchase Up to $1.8B of its Common Stock
State Street Corporation (NYSE: STT) today announced a quarterly dividend of $0.24 per share of common stock, payable April 16, 2012, to stockholders of record as of April 2, 2012, and representing an increase of $0.06 per share, or 33%, from the $0.18 per share of common stock dividend paid on January 17, 2012. This increase restores the dividend to its previous split-adjusted high of $0.24 per share of common stock, most recently paid on January 15, 2009.
State Street also announced that its Board of Directors has approved a new common stock purchase program authorizing the purchase of up to $1.8 billion of common stock through March 31, 2013. This new program follows the Company's 2011 common stock purchase program, completed in November 2011, under which it purchased approximately $675 million of its common stock and reinforces the Company's intent to prioritize a return of capital to shareholders.
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.