State Street plans to boost its quarterly dividend by 10%, to 92 cents a share, up from 84 cents a share, after passing the Federal Reserve's annual stress test.
The new payout, equal to $3.68 a year, would represent a 2.2% annual yield based on the company's Wednesday closing price of $168.87. The dividend boost remains subject to approval by the board.
The boost comes after State Street and other financial services firms passed the Federal Reserve's annual test of whether they could weather severe economic shocks.
"The strength and resilience of our business allow us to support clients through varying market conditions while delivering for shareholders," Chief Executive Officer Ron O'Hanley said. "As a result, we intend to increase our quarterly common stock dividend by 10%."
Write to Elias Schisgall at elias.schisgall@wsj.com
(END) Dow Jones Newswires
June 24, 2026 16:57 ET (20:57 GMT)
Copyright (c) 2026 Dow Jones & Company, Inc.
Comments