Bank of New York Mellon Corporation
Bank of New York Mellon Announces Dividend Increase and Maintains Stress Capital Buffer
Summary
On June 28, 2024, The Bank of New York Mellon Corporation announced an increase in its quarterly common stock cash dividend by 12% from $0.42 to $0.47 per share, effective as early as the third quarter of 2024, pending Board approval. The Federal Reserve's preliminary Stress Capital Buffer requirement will remain at 2.5% for the period from October 1, 2024, to September 30, 2025. The Company also continues to be authorized to repurchase common shares under its existing program, which may be executed through various means. These statements are forward-looking and subject to change based on various factors and uncertainties.
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About Bank of New York Mellon Corporation
Bank of New York Mellon Corporation, commonly known as BNY Mellon, is a prominent financial services company that provides investment management and investment services around the globe. Founded in 1784, it is one of the oldest banking institutions in the United States, with a rich history and a significant role in the evolution of global finance. BNY Mellon specializes in asset servicing, wealth management, and issuer services, catering to a broad spectrum of clients that include financial institutions, corporations, and high-net-worth individuals. The corporation plays a critical role in the financial markets through its custody and administration services, safeguarding trillions of dollars in assets. By leveraging its advanced technology and global reach, BNY Mellon ensures efficient capital flow and security. Its leadership in providing solutions tailored to the evolving needs of its clients enhances market structure and stability. Headquartered in New York City, BNY Mellon is an influential entity in shaping the financial landscape, promoting liquidity, and supporting operational efficiency across diverse sectors and markets.
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