State Street's 2015 Capital Plan Includes $1.8B In Buybacks, 13% Dividend Hike

State Street announced plans to buy back shares worth $1.8 billion between now and the end of June 2016 while also hiking common share dividends by 13%. While slightly higher than the $1.7 billion share repurchase plan the bank put in place last year, the proposed buyback is lower than the record $2 billion worth of equity shares the global custody banking giant eliminated in 2013.