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.
BNY Mellon will report its fourth quarter 2020 financial results on January 20, 2021. Results will be available on the company's website by 6:30 a.m. ET and a conference call will follow at 8 a.m. ET. The call will feature forward-looking statements and other material information. Investors can access the call by phone or through a live webcast. Replays will be available from January 20, 2021, at 2 p.m. ET until February 19, 2021. BNY Mellon manages approximately $2.0 trillion in assets.
On November 4, 2020, BNY Mellon (NYSE: BK) announced the redemption of all outstanding shares of its Series C Noncumulative Perpetual Preferred Stock and corresponding Depositary Shares. This includes 5,825 shares of Series C Preferred Stock and 23,300,000 Depositary Shares, with a redemption date set for December 20, 2020, and payment to be made on December 21, 2020. The redemption price is $25 per Depositary Share, amounting to $100,000 per share of Series C Preferred Stock. Post-redemption, dividends on these shares will cease to accumulate.
BNY Mellon (NYSE: BK) announced the pricing of a public offering for 582,500 depositary shares, each representing a 1/100th interest in its Series H Noncumulative Perpetual Preferred Stock, totaling $582.5 million. The shares are priced at $1,000 each, with a 3.700% annual dividend rate until March 20, 2026. Proceeds will be used to redeem Series C Preferred Stock. The offering is set to close on November 3, 2020.
BNY Mellon executives, Emily Portney and Roman Regelman, will present at the 39th Annual BancAnalysts Association of Boston Conference on November 6, 2020, at 12:10 p.m. ET. The presentation may include significant forward-looking statements.
A live audio webcast will be accessible on the BNY Mellon website and archived audio will be available from 5 p.m. ET on the same day until December 7, 2020. BNY Mellon manages $38.6 trillion in assets under custody as of September 30, 2020.
On October 20, 2020, Alcentra appointed Chris Mulshine as Head of U.S. Distribution, enhancing its leadership team amid a competitive market. He brings 25 years of experience in private credit and alternative asset management, having previously held senior roles at Lazard, Credit Suisse, UBS, and Goldman Sachs. His focus will be on developing sales and marketing strategies to expand Alcentra's U.S. investor base. Alcentra manages over US$42.1 billion in assets, offering diverse credit solutions since its inception in 2002.
The Bank of New York Mellon Corporation (NYSE: BK) announced a quarterly common stock dividend of $0.31 per share, payable on November 10, 2020, to shareholders of record by October 28, 2020. Additionally, it declared dividends on preferred stock for the period ending in December 2020, payable on December 21, 2020. Dividends include $1,011.11 for Series A, $1,300.00 for Series C, $2,250.00 for Series D, and $921.98 for Series E preferred stock holders of record by December 5, 2020.
The Bank of New York Mellon Corporation (BK) reported a net income of $876 million for Q3 2020, representing a 3% decline from Q2 2020 and a 13% drop from Q3 2019. Diluted earnings per share decreased by 8% year-over-year to $0.98. Total revenue was $3.8 billion, down less than 1%, driven by a 1% decline in fee revenue and a 4% decrease in net interest revenue. The common equity Tier 1 (CET1) ratio improved to 13.0%, with continued investments in technology and a focus on cost management. The company aims to resume share buybacks as economic conditions stabilize.
BNY Mellon Wealth Management has appointed Michael Dawkins as Market President in Atlanta, GA, effective immediately. He will manage all facets of wealth management in the Atlanta area, reporting to Southeast Regional President Kent Moegerle. Dawkins brings nearly 30 years of experience, including a decade at BNY Mellon, formerly serving as Senior Director. His extensive background encompasses high-net-worth and institutional asset management. BNY Mellon manages $254 billion in client assets as of June 30, 2020, providing comprehensive wealth services globally.
BNY Mellon Wealth Management has appointed Audrianna Sibiski as Senior Client Strategist in Menlo Park, CA. With significant experience from her previous role at Bank of America Private Bank, she will advise high-net-worth clients on wealth strategy and planning.
Reporting to Thomas Fickinger, Regional President, Audrianna brings a wealth of global business and financial services expertise. BNY Mellon manages $254 billion in client assets as of June 30, 2020, and operates extensively in the wealth management sector.
BNY Mellon has announced the redemption of all issued 2.450% Senior Notes due November 27, 2020, totaling $800 million. The redemption date is set for October 27, 2020, where the principal amount will be redeemed at 100% plus any accrued interest. Following the redemption date, the notes will no longer be considered outstanding, and no further interest will accrue. The payment will be facilitated through The Depository Trust Company. As of June 30, 2020, BNY Mellon managed $37.3 trillion in assets under custody.