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State Street Corp.'s Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series D About To Put More Money In Your Pocket

By Preferred Stock Channel Staff, Wednesday, May 25, 1:31 PM ET
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On 5/27/22, State Street Corp.'s Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series D (NYSE:STT.PRD) will trade ex-dividend, for its quarterly dividend of $0.3687, payable on 6/15/22. As a percentage of STT.PRD's recent share price of $24.41, this dividend works out to approximately 1.51%, so look for shares of STT.PRD to trade 1.51% lower — all else being equal — when STT.PRD shares open for trading on 5/27/22. On an annualized basis, the current yield is approximately 6.10%, which compares to an average yield of 5.90% in the "Financial" preferred stock category, according to Preferred Stock Channel.

As of last close, STT.PRD was trading at a 3.24% discount to its liquidation preference amount. The chart below shows the one year performance of STT.PRD shares, versus STT:

Performance Comparison Chart

Below is a dividend history chart for STT.PRD, showing historical dividends prior to the most recent $0.3687 on State Street Corp.'s Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series D:


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In Wednesday trading, State Street Corp.'s Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series D (NYSE:STT.PRD) is currently up about 0.9% on the day, while the common shares (NYSE:STT) are off about 0.7%.


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