State Street (NYSE:STT) Is Increasing Its Dividend To $0.84

The board of State Street Corporation (NYSE:STT) has announced that it will be paying its dividend of $0.84 on the 14th of October, an increased payment from last year’s comparable dividend. This takes the dividend yield to 3.0%, which shareholders will be pleased with.

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State Street’s Earnings Will Easily Cover The Distributions

If the payments aren’t sustainable, a high yield for a few years won’t matter that much.

State Street has established itself as a dividend paying company with over 10 years history of distributing earnings to shareholders. Taking data from its last earnings report, calculating for the company’s payout ratio shows 34%, which means that State Street would be able to pay its last dividend…