State Street raises quarterly dividend to 76c per share, completes stress test

State Street announced its intention to increase its per share common stock dividend by 10% to 76c in the third quarter of 2024, subject to consideration and approval by its board. State Street continues to be authorized to repurchase common shares under its existing share repurchase program previously approved by its board. The company also announced that it had completed the Federal Reserve’s 2024 Comprehensive Capital Analysis and Review, or CCAR, stress test process. State Street’s calculated Stress Capital Buffer under this year’s supervisory stress test was well below the 2.5% minimum, preliminarily resulting in a continued SCB at that floor, which maintains its common equity tier 1 ratio requirement at 8%. The Federal Reserve will release the firm’s final SCB requirement by August 31, which will become effective on October 1 and remain in effect through September 30, 2025.