01—Abstract
Summary
Summary of the 8-K filed August 9, 2024. Cited figures are marked; the original filing is the authoritative source.
State Street Corporation (STT) has announced the redemption of all its outstanding Series H Preferred Stock.
This action, effective September 16, 2024, involves redeeming 5,000 shares of preferred stock at a price of $100,000a per share ($1,000 per depositary share). The redemption also includes any declared but unpaid dividends up to the redemption date, excluding the dividend announced on July 18, 2024. This move indicates a strategic financial decision by State Street, likely aimed at optimizing its capital structure or reducing financing costs.
02—Key points
Key Highlights
- State Street Corporation (STT) is redeeming all outstanding Series H Preferred Stock.
- The redemption date is set for September 16, 2024.
- The redemption price is $100,000 per share of Series H Preferred Stock ($1,000 per depositary share).
- Redemption includes declared but unpaid dividends up to the redemption date.
- The dividend announced on July 18, 2024, will not be included in the redemption price.
- Approximately 5,000 shares of Series H Preferred Stock are being redeemed.
03—Questions
Frequently Asked Questions
What is State Street Corporation (STT) announcing?
State Street Corporation is announcing the redemption of all of its outstanding Series H Preferred Stock.
When will the Series H Preferred Stock be redeemed?
The redemption date is September 16, 2024.
What is the redemption price for the Series H Preferred Stock?
The redemption price is $100,000 per share of Series H Preferred Stock, which is equivalent to $1,000 per depositary share. This price also includes any dividends declared but not paid up to, but not including, the redemption date.
Is the dividend announced on July 18, 2024, included in the redemption price?
No, the cash dividend announced on July 18, 2024, will not be included in the Series H Redemption Price.
04—Continue