BOSTON--(BUSINESS WIRE)--State Street Corporation (NYSE:STT) today announced a quarterly dividend of $0.18 per share of common stock, payable April 15, 2011, to stockholders of record as of April 1, 2011. Today’s announced common stock dividend represents an increase of $0.17 per share from the $0.01 per share dividend paid on January 18, 2011.
State Street also announced that its Board of Directors has approved a new common stock purchase program authorizing the purchase of up to $675 million of common stock in 2011. This new program supersedes the Board’s prior common stock purchase authorization under which it has not engaged in purchases since January 2008. State Street may commence stock purchases under this new authorization at any time.
As part of its Comprehensive Capital Adequacy Review of bank holding companies, the Federal Reserve reviewed State Street’s comprehensive capital plan and did not object to the Company’s increase in its quarterly dividend and the execution of its new stock purchase program.
State Street Corporation (NYSE: STT) is one of the world's leading providers of financial services to institutional investors including investment servicing, investment management and investment research and trading. With $21.53 trillion in assets under custody and administration and $2.01 trillion in assets under management at December 31, 2010, State Street operates in 26 countries and more than 100 geographic markets and employs 28,670 worldwide. For more information, visit State Street’s web site at www.statestreet.com or call +1 877/639-7788 [NEWS STT] toll-free in the United States and Canada, or +1 678/999-4577 outside those countries.
This AUM includes the assets of the SPDR Gold Trust (approx. $56 billion as of December 31, 2010), for which State Street Global Markets, LLC, an affiliate of State Street Global Advisors, serves as the marketing agent.