BNY Mellon Declares Dividends

Rhea-AI Summary

The Bank of New York Mellon Corporation (NYSE: BK) declares a quarterly common stock dividend of $0.42 per share, payable on February 2, 2024 to shareholders of record as of January 22, 2024. Additionally, dividends for noncumulative perpetual preferred stock were announced, with the payment date on March 20, 2024.

Financial Analyst

The declaration of dividends by The Bank of New York Mellon Corporation (BNY Mellon) signifies a distribution of earnings to shareholders, which is a direct indicator of the bank's financial health and stability. The announcement of a quarterly common stock dividend of $0.42 per share demonstrates a sustained return to investors and is a critical factor in the overall shareholder value proposition.

From a financial analysis perspective, the dividends on preferred stock indicate a commitment to fulfilling obligations to preferred shareholders, who generally have priority over common stockholders in dividend payments. The detailed dividend payments for various series of preferred stock suggest a structured approach to rewarding different tiers of equity investments, which can affect the stock's attractiveness to potential investors seeking stable income.

Given BNY Mellon's significant role in the financial markets, with $47.8 trillion in assets under custody/administration and $2.0 trillion in assets under management, the bank's performance and dividend policy can influence investor sentiment and market stability. The bank's historical reputation and recognition in the industry may bolster investor confidence, potentially impacting the stock's demand and market performance.

Market Research Analyst

Dividend announcements can be a signal to the market regarding a company's confidence in its financial sustainability and profitability. BNY Mellon's declaration of dividends could influence market perceptions and investor decisions, as dividends are often seen as a sign of corporate strength and a company's ability to generate cash flow.

Furthermore, the timing and consistency of dividend payments can impact investor sentiment and the stock's attractiveness, especially among income-focused investors. The historical context of BNY Mellon as America's oldest bank and its reputation may contribute to its perceived reliability as an investment.

It is also important to consider the broader economic environment when interpreting the impact of dividend announcements. For instance, in a low-interest-rate environment, the yields offered by bank dividends could become more appealing compared to other income-generating assets, potentially increasing demand for the stock.

NEW YORK, Jan. 12, 2024 /PRNewswire/ -- The Bank of New York Mellon Corporation (NYSE: BK) today announced that its Board of Directors declared dividends on its common and preferred stock as follows:

Common – a quarterly common stock dividend of $0.42 per share, payable on February 2, 2024 to shareholders of record as of the close of business on January 22, 2024.

Preferred – the following dividends for the noncumulative perpetual preferred stock, liquidation preference $100,000 per share, for the dividend period ending in March 2024, in each case payable on March 20, 2024 to holders of record as of the close of business on March 5, 2024:

• $1,566.46 per share on the Series A Preferred Stock (equivalent to $15.664639 per Normal Preferred Capital Security of Mellon Capital IV, each representing a 1/100th interest in a share of the Series A Preferred Stock);
• $2,312.50 per share on the Series F Preferred Stock (equivalent to $23.125000 per depositary share, each representing a 1/100th interest in a share of the Series F Preferred Stock);
• $2,350.00 per share on the Series G Preferred Stock (equivalent to $23.500000 per depositary share, each representing a 1/100th interest in a share of the Series G Preferred Stock);
• $925.00 per share on the Series H Preferred Stock (equivalent to $9.250000 per depositary share, each representing a 1/100th interest in a share of the Series H Preferred Stock); and
• $937.50 per share on the Series I Preferred Stock (equivalent to $9.375000 per depositary share, each representing a 1/100th interest in a share of the Series I Preferred Stock).

Established in 1784, BNY Mellon is America's oldest bank and the first company listed on the New York Stock Exchange (NYSE: BK).  Today, BNY Mellon powers capital markets around the world through comprehensive solutions that help clients manage and service their financial assets throughout the investment life cycle.  BNY Mellon had $47.8 trillion in assets under custody and/or administration and $2.0 trillion in assets under management as of December 31, 2023.  BNY Mellon has been named among Fortune's World's Most Admired Companies and Fast Company's Best Workplaces for Innovators.  BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation.  Additional information is available on www.bnymellon.com.  Follow us on LinkedIn or visit our Newsroom for the latest company news.

Contacts:

Media
Garrett Marquis
(949) 683-1503
Garrett.Marquis@bnymellon.com 

Analysts
Marius Merz
(212) 298-1480
Marius.Merz@bnymellon.com 

View original content:https://www.prnewswire.com/news-releases/bny-mellon-declares-dividends-302033571.html

SOURCE BNY Mellon

What is the dividend amount for the common stock of The Bank of New York Mellon Corporation?

The quarterly common stock dividend is $0.42 per share.

When is the payment date for the common stock dividend of The Bank of New York Mellon Corporation?

The payment date is February 2, 2024.

What is the ticker symbol for The Bank of New York Mellon Corporation?

The ticker symbol is BK.

When is the payment date for the preferred stock dividends of The Bank of New York Mellon Corporation?

The payment date for the preferred stock dividends is March 20, 2024.

What is the liquidation preference for the noncumulative perpetual preferred stock of The Bank of New York Mellon Corporation?

The liquidation preference is $100,000 per share.

How much is the dividend per share for the Series A Preferred Stock of The Bank of New York Mellon Corporation?

The dividend per share is $1,566.46.

What is the total assets under management for The Bank of New York Mellon Corporation?

The total assets under management are $2.0 trillion as of December 31, 2023.

When was The Bank of New York Mellon Corporation established?

The Bank of New York Mellon Corporation was established in 1784.