State Street announces planned dividend increase, $2B share repurchase plan
State Street 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 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 52c per share, from 47c per share, beginning in the third quarter. State Street's Board of Directors will consider this increase in common stock dividend at its regularly scheduled board meeting in September. Additionally, State Street's Board has approved a new common stock purchase program, authorizing the purchase of up to $2B 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.