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

On 5/28/15, 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 $0.3688, payable on 6/15/15. As a percentage of STT.PRD's recent share price of $26.61, this dividend works out to approximately 1.39%, so look for shares of STT.PRD to trade 1.39% lower — all else being equal — when STT.PRD shares open for trading on 5/28/15. On an annualized basis, the current yield is approximately 5.55%, which compares to an average yield of 5.65% 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 6.44% premium to its liquidation preference amount, versus the average premium of 2.44% 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 $0.3688 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) makes up 2.86% of the SPDR S&P Capital Markets ETF (KCE) which is trading relatively unchanged on the day Tuesday.

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

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