State Street Corp.'s Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series D Goes Ex-Dividend Soon

On 2/27/18, State Street Corp.'s Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series D will trade ex-dividend, for its quarterly dividend of $0.3687, payable on 3/15/18. As a percentage of STT.
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On 2/27/18, State Street Corp.'s Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series D (STT.PRD) will trade ex-dividend, for its quarterly dividend of $0.3687, payable on 3/15/18. As a percentage of STT.PRD's recent share price of $26.96, this dividend works out to approximately 1.37%, so look for shares of STT.PRD to trade 1.37% lower — all else being equal — when STT.PRD shares open for trading on 2/27/18. On an annualized basis, the current yield is approximately 5.50%, which compares to an average yield of 5.60% in the "Financial" preferred stock category, according to Preferred Stock Channel.

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As of last close, STT.PRD was trading at a 7.28% premium to its liquidation preference amount, versus the average premium of 4.02% in the "Financial" category. 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:

STT.PRD+Dividend+History+Chart

According to the ETF Finder at ETF Channel, State Street Corp. (STT) - Get Report makes up 2.22% of the SPDR S&P Capital Markets ETF (KCE) which is trading relatively unchanged on the day Friday.

In Friday trading, State Street Corp.'s Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series D (STT.PRD) is currently up about 0.5% on the day, while the common shares (STT) - Get Report are trading flat.