State Street Corporation (NYSE:STT) Files An 8-K Other Events

On June 27, 2019, State Street Corporation announced that the Federal Reserve did not object to the Company’s capital plan, reviewed as part of the 2019 Comprehensive Capital Analysis and Review (CCAR) process. The capital plan includes a proposed common stock dividend increase and a new common stock purchase program.

State Street’s capital plan proposes an increase to the quarterly common stock dividend to $0.52 per share, from $0.47 per share, beginning in the third quarter of 2019. State Street’s Board of Directors will consider this increase in common stock dividend at its regularly scheduled board meeting in September 2019. Additionally, State Street’s Board has approved a new common stock purchase program, authorizing the purchase of up to $2.0 billion of its common stock that was included in the capital plan. The program will be effective July 1, 2019 and extend through June 30, 2020.

State Street’s third quarter 2019 common stock and other stock dividends, including the declaration, timing and amount, remain subject to consideration and approval by State Street’s Board of Directors at the relevant times. State Street may commence purchases of its common stock under the new authorization beginning July 1, 2019. Stock purchases may be made using various types of transactions, including open-market purchases, accelerated share repurchases or other transactions off the market, and may be made under Rule 10b5-1 trading programs. The timing of stock purchases, type of transaction and number of shares purchased will depend on several factors, including market conditions and State Street’s capital position, its financial performance, the amount of common stock issued as part of employee compensation programs and investment opportunities. The common stock purchase program does not have specific price targets and may be suspended at any time.

Forward-Looking Statements

This Current Report on Form 8-K contains forward-looking statements within the meaning of United States securities laws, including statements about our goals and expectations regarding our business, financial and capital condition, results of operations, strategies, the financial and market outlook, dividend and stock purchase programs, governmental and regulatory initiatives and developments, and the business environment. Forward-looking statements are often, but not always, identified by such forward-looking terminology as “outlook,” “guidance,” “expect,” “priority,” “propose,” “objective,” “intend,” “plan,” “forecast,” “believe,” “anticipate,” “estimate,” “seek,” “may,” “will,” “trend,” “target,” “strategy” and “goal,” or similar statements or variations of such terms. These statements are not guarantees of future performance, are inherently uncertain, are based on current assumptions that are difficult to predict and involve a number of risks and uncertainties. Therefore, actual outcomes and results may differ materially from what is expressed in those statements, and those statements should not be relied upon as representing our expectations or beliefs as of any time subsequent to the time this Report is filed with the Securities and Exchange Commission.

Important factors that may affect future results and outcomes include, but are not limited to:

development and maintenance programs; and to control risks related to use of technology, including cyber-crime and inadvertent data disclosures;

the transaction will harm our relationships with our clients, our employees or regulators;

Other important factors that could cause actual results to differ materially from those indicated by any forward-looking statements are set forth in our 2018 Annual Report on Form 10-K and our subsequent SEC filings. We encourage investors to read these filings, particularly the sections on risk factors, for additional information with respect to any forward-looking statements and prior to making any investment decision. The forward-looking statements contained herein should not be relied on as representing our expectations or beliefs as of any time subsequent to the time this Report is filed with the Securities and Exchange Commission, and we do not undertake efforts to revise those forward-looking statements to reflect events after that time.

About State Street Corporation (NYSE:STT)

State Street Corporation, the parent company, is a financial holding company. The parent company provides financial and managerial support to its legal and operating subsidiaries. The Company, through its subsidiary, State Street Bank, provides a range of financial services and products to institutional investors across the world. Its clients include mutual funds, collective investment funds and other investment pools, corporate and public retirement plans, insurance companies, foundations, endowments and investment managers. It has approximately two lines of business: Investment Servicing and Investment Management. Its Investment Servicing line of business performs core custody and related value-added functions, such as providing institutional investors with clearing, payment and settlement services. Its Investment Management services through State Street Global Advisors (SSGA). SSGA provides a range of investment management, investment research and investment advisory services.