Welcome to our dedicated page for Bank New York Mellon news (Ticker: BK), a resource for investors and traders seeking the latest updates and insights on Bank New York Mellon stock.
The Bank of New York Mellon Corporation (BNY, NYSE: BK) generates a steady flow of news as a global financial services company at the center of capital markets. As America’s oldest bank and a major provider of asset servicing and investment management, its announcements cover dividends, earnings, capital actions, technology initiatives and product launches that are relevant to institutional and individual investors tracking BK stock.
Recent news releases highlight dividend declarations on both common and noncumulative perpetual preferred stock, detailing quarterly common dividends and payments on multiple preferred series. BNY also issues regular updates on its quarterly financial results, accompanied by earnings releases, financial supplements and conference call webcasts where management discusses performance and outlook.
BNY’s news flow also reflects its role in digital assets and innovation. The company has announced the launch of the BNY Dreyfus Stablecoin Reserves Fund, a government money market fund intended to hold reserves for certain U.S. stablecoin issuers under the GENIUS Act, and a collaboration with Google Cloud to integrate Gemini Enterprise into its Eliza enterprise AI platform. These items illustrate how BNY is applying technology and regulated fund structures to evolving areas of finance.
Corporate governance and employee-focused initiatives appear in its updates as well, including the election of new independent directors to the Board and participation in a U.S. government investment initiative for children that provides contributions to tax-advantaged accounts for eligible newborns of certain employees. For investors and observers, the BK news page on Stock Titan aggregates these types of announcements so users can monitor BNY’s dividends, earnings communications, product developments and strategic programs in one place.
On June 25, 2024, the BNY Mellon High Yield Strategies Fund (NYSE: DHF) announced a monthly cash dividend of $0.0175 per share, payable on July 24, 2024, to shareholders of record by July 10, 2024, with the same ex-dividend date.
BNY Mellon, the fund advisor, manages $2.0 trillion in assets as of March 31, 2024, and has $48.8 trillion in assets under custody or administration.
BNY Mellon is America's oldest bank, founded in 1784, and is known for its comprehensive financial solutions.
The Bank of New York Mellon (NYSE: BK) announced the appointment of Leigh-Ann Russell as Chief Information Officer and Global Head of Engineering, effective September 15, 2024. Reporting to President and CEO Robin Vince, Russell will join the Executive Committee. With a background as Executive Vice President of Innovation and Engineering at bp, Russell brings extensive experience in digital, IT, and cybersecurity operations, as well as engineering, safety, and science. This strategic hire aims to bolster BNY's technological innovation and resilience in the global financial system.
Buenaventura, Peru's largest publicly traded precious metals mining company, has resumed ore processing operations at its El Brocal mine. The resumption began at midnight on June 7, 2024, to process the accumulated 220,000 tonnes of copper ore. The processing rate will ramp up to 15,000 tons per day, aiming to meet the budgeted production for Q3 2024 and the full-year 2024 production guidance. The resumption follows an agreement between the Huaraucaca community leaders and El Brocal representatives, facilitated by Peru's Ministry of Energy and Mines. The agreement addresses compliance with commitments between the parties. Buenaventura reaffirms its commitment to all signed agreements with surrounding communities.
The Bank of New York Mellon (BNY Mellon) has announced its intention to redeem all issued and outstanding 3.430% Fixed Rate / Floating Rate Callable Senior Notes due June 13, 2025. The total principal amount of these notes stands at $362,688,000. The notes will be redeemed on June 13, 2024, at a redemption price equal to 100% of the principal amount plus any accrued and unpaid interest up to, but excluding, the redemption date. Post-redemption, the notes will no longer accrue interest and will no longer be considered outstanding. Payment will be processed through The Depository Trust Company.
Dreyfus, part of BNY Mellon, has introduced BOLD® Future, a new share class for retail investors under the Dreyfus Government Cash Management fund.
The initiative will support Howard University's GRACE Grant by donating 10% of net revenue from this share class to a dedicated scholarship fund.
BOLD Future aims to cater to financial advisors and their clients with a minimum investment requirement of $25,000. This new offering follows strong demand from institutional investors for BOLD, which stands for Black Opportunity for Learning and Development.
The partnership underscores Dreyfus' commitment to social impact, having already donated over $1 million to Howard University.
BNY Mellon, a global financial services company, manages $48.8 trillion in assets under custody and $2.0 trillion in assets under management as of March 2024.
BNY Mellon Municipal Bond Infrastructure Fund (NYSE: DMB) has announced a distribution of $0.0300 per share, payable on July 1, 2024, to shareholders of record on June 20, 2024. The ex-dividend date is also June 20, 2024. This distribution matches the previous one from May. The Fund aims to provide regular monthly distributions based on projected performance. To maintain stable distributions, it may pay out less than its net investment income or return capital. Market conditions and portfolio performance may cause changes in distribution rates and policies. BNY Mellon Investment Management, a division of BNY Mellon, manages $2.0 trillion in assets as of March 31, 2024, and BNY Mellon holds $48.8 trillion in assets under custody and administration.
BNY Mellon has announced new enhancements to Pershing X's Wove platform, a wealth management tool. The updates include Wove Investor, a client portal for investors to manage multiple accounts, and Wove Data, a cloud-based tool for C-suite executives to analyze large data sets. Additionally, Portfolio Solutions offers new features to help advisors optimize investment strategies.
The Wove Investor portal allows users to check balances and perform tasks across various custodians, with future updates planned for money transfers and advisor collaboration. Wove Data aims to provide deeper insights into wealth management performance, while Portfolio Solutions enhances efficiency in aligning investment products with client objectives.
These updates are part of BNY Mellon's ongoing commitment to innovation in the wealth management sector, as articulated by Pershing X President, Ainslie Simmonds.
BNY Mellon has announced a new bundled offering through Pershing, aimed at financial advisors, including RIAs, broker-dealers, and banks. This package integrates services from BNY Mellon Investment Management and BNY Mellon Advisors, potentially providing up to 40% in savings. The initiative seeks to simplify the investment process for advisors by combining asset allocation, manager selection, investment management products, customized tax solutions, and custody and clearing services. The offering is backed by BNY Mellon's 240 years of financial expertise and is designed to help advisors better meet client needs and improve their practice efficiency.
BNY Mellon announced the launch of customized tax solutions and expanded its Precision Direct Indexing suite. Financial advisors, broker-dealers, and RIAs can now access these services to better align with their clients' investment goals. Managed by Mellon's expert team, the new offerings include tax transition management and tax overlay management. These services allow portfolio migration considering various factors like time horizon and tax budget. Additionally, five new direct indexing strategies have been added: US Core 500, US Total Market, US Large Cap Growth, US Large Cap Value, and International Developed Core. As of March 31, 2024, BNY Mellon oversees $48.8 trillion in assets under custody and $2.0 trillion in assets under management.
Stephanie Hill, Head of Index at Mellon, emphasized the firm's dedication to delivering institutional-quality index management to retail investors. BNY Mellon serves a wide range of clients, including over 90% of Fortune 100 companies and top 100 banks globally. Mellon manages $486.1 billion in assets and offers solutions tailored to sophisticated investors. For more information, visit BNY Mellon's website.
The Community Development Bankers Association (CDBA) and the National Bankers Association (NBA) have launched the Advancing Communities Together (ACT) Deposit Program. This initiative aims to channel $35 million from major financial firms into banks serving low-income and minority communities. The deposits are FDIC-insured, with expectations of more funding from corporations, foundations, and universities. Participating firms include Blackstone, BNY Mellon, Warburg Pincus, and IntraFi. The program simplifies the funding process, distributing deposits among over 70 community banks to facilitate lending and promote economic growth in underserved areas. The program is part of a larger effort to leverage $6 billion in Treasury funds to support communities affected by the pandemic.
FAQ
What is the current stock price of Bank New York Mellon (BK)?
What is the market cap of Bank New York Mellon (BK)?
