State Street Corporation (STT) will raise its quarterly dividend by 9.6 percent to 57 cents per share in 2021. This follows a 10.6 percent to $0.52 per share announced in 2019. This marks the 11th consecutive year of annual dividend increases by the financial holding company based on calendar years.

The next dividend is payable on October 12, 2021 to common shareholders of record at the close of business on October 1, 2021. A new annual rate of $2.28 per share yields 2.8% at a stock price of $82.

State Street Corporation is a financial holding company. The Company, through its subsidiary, State Street Bank and Trust Company (State Street Bank), provides a range of financial products and services to institutional investors.  Its clients include mutual funds, collective investment funds and other investment pools, corporate and public retirement plans, insurance companies, foundations, endowments and investment managers.