BNY Mellon Hikes Quarterly Common Stock Dividend 19% to $0.63 Per Share
BNY sits 60% above its 52-week low of $89.45.
Summary
Bank of New York Mellon announced a significant 19% increase in its quarterly common stock dividend, raising it to $0.63 per share. This move signals strong financial health and management's confidence in the company's future earnings and capital position. The dividend hike follows recent actions by BNY Mellon to optimize its capital structure, including the redemption and formal elimination of its Series H Preferred Stock.
At the time of this announcement, BNY was trading at $143.56 on NYSE in the Finance sector, with a market capitalization of approximately $98.5B. The 52-week trading range was $89.45 to $148.50. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Dow Jones Newswires.