BOSTON--(BUSINESS WIRE)--State Street Corporation (NYSE:STT) announced today that it has temporarily suspended its common stock repurchase program through June 2020. This action is consistent with the announcement by the Financial Services Forum yesterday that its eight members, including State Street, decided to temporarily suspend share buybacks, in light of the COVID-19 pandemic. There is no change to State Street’s dividend policy.
State Street’s actions are taken in support of the broader financial system and economy at this time. For more than 227 years we have stood by our clients and broader constituencies, and this time will be no different.
State Street may reinstate its common stock repurchase program at any time based on several factors, including developments associated with the COVID-19 pandemic, market conditions and its capital position and financial performance.
About State Street
State Street Corporation (NYSE: STT) is one of the world's leading providers of financial services to institutional investors including investment servicing, investment management and investment research and trading. With $34.36 trillion in assets under custody and/or administration and $3.12 trillion* in assets under management as of December 31, 2019, State Street operates globally in more than 100 geographic markets and employs approximately 39,000 worldwide. For more information, visit State Street's website at www.statestreet.com. *
*Assets under management as of December 31, 2019 includes approximately $45 billion of assets with respect to which State Street Global Advisors Funds Distributors, LLC (SSGA FD) serves as marketing agent; SSGA FD and State Street Global Advisors are affiliated.
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Expiration Date: 3/16/2021