State Street Redeems Series D and F Preferred Stock

State Street (STT) has released an update.

State Street Corporation is set to redeem all its outstanding shares of Series D and Series F non-cumulative perpetual preferred stock on March 15, 2024. Holders of Series D shares will receive $25.00 per depositary share, and Series F shareholders will get $1,000.00 per depositary share, plus any declared and unpaid dividends up to the redemption date. However, dividends announced on January 18, 2024, will not be part of the redemption price. This move promises to return significant cash to shareholders of these particular stock series.

For further insights into STT stock, check out TipRanks’ Stock Analysis page.

For a comprehensive understanding of the announcement, you can read the full document here.