Summary
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 $100,000 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.
Key Highlights
- 1State Street Corporation (STT) is redeeming all outstanding Series H Preferred Stock.
- 2The redemption date is set for September 16, 2024.
- 3The redemption price is $100,000 per share of Series H Preferred Stock ($1,000 per depositary share).
- 4Redemption includes declared but unpaid dividends up to the redemption date.
- 5The dividend announced on July 18, 2024, will not be included in the redemption price.
- 6Approximately 5,000 shares of Series H Preferred Stock are being redeemed.