{"id":507359,"date":"2021-06-28T17:22:05","date_gmt":"2021-06-28T21:22:05","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/bny-mellon-announces-intention-to-increase-quarterly-common-stock-dividend-by-10-percent-to-0-34-per-share-and-authorization-to-repurchase-up-to-6-0-billion-of-common-stock\/"},"modified":"2021-06-28T17:22:05","modified_gmt":"2021-06-28T21:22:05","slug":"bny-mellon-announces-intention-to-increase-quarterly-common-stock-dividend-by-10-percent-to-0-34-per-share-and-authorization-to-repurchase-up-to-6-0-billion-of-common-stock","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/bny-mellon-announces-intention-to-increase-quarterly-common-stock-dividend-by-10-percent-to-0-34-per-share-and-authorization-to-repurchase-up-to-6-0-billion-of-common-stock\/","title":{"rendered":"BNY Mellon Announces Intention to Increase Quarterly Common Stock Dividend by 10 Percent to $0.34 per Share and Authorization to Repurchase up to $6.0 Billion of Common Stock"},"content":{"rendered":"<div class=\"xn-newslines\">\n<p class=\"xn-distributor\">PR Newswire<\/p>\n<\/p><\/div>\n<div class=\"xn-content\">\n<p>\n        <span class=\"xn-location\">NEW YORK<\/span>, <span class=\"xn-chron\">June 28, 2021<\/span> \/PRNewswire\/ &#8212;\u00a0On <span class=\"xn-chron\">June 24, 2021<\/span>, the Federal Reserve released the results of the 2021 bank stress test, which demonstrates the resilience and strength of BNY Mellon&#8217;s business model and capital position. The Federal Reserve also notified the company that its Stress Capital Buffer (SCB) requirement, effective <span class=\"xn-chron\">October 1, 2021<\/span>, will remain 2.5%\u00b9, equal to the regulatory minimum. The Federal Reserve&#8217;s recent restrictions on common stock dividends and share repurchases applicable to the large banks that are subject to the supervisory stress test, including BNY Mellon, will end after <span class=\"xn-chron\">June 30, 2021<\/span>. <\/p>\n<p>The company intends to increase its quarterly cash dividend on its common stock by approximately 10% from\u00a0$0.31 to <span class=\"xn-money\">$0.34<\/span> per share, commencing as early as the third quarter of 2021, subject to board approval.<\/p>\n<p>Additionally, BNY Mellon&#8217;s board of directors has authorized the repurchase of up to <span class=\"xn-money\">$6.0 billion<\/span> of the company&#8217;s common stock over the six quarters beginning in the third quarter of 2021 and continuing through the fourth quarter of 2022. This new authorization replaces all previously authorized share repurchase plans and, in conjunction with the SCB framework, provides management flexibility to manage the extent and timing of the company&#8217;s capital distributions. The timing, manner and amount of repurchases is subject to various factors, including the company&#8217;s capital position and prevailing market conditions.<\/p>\n<p>\n        <span class=\"xn-person\">Todd Gibbons<\/span>, Chief Executive Officer of BNY Mellon said: &#8220;We are pleased with the results of this year&#8217;s stress test, which once again demonstrate the resilience of our business model and the strength of our balance sheet even under severe stress. We appreciate the flexibility of the SCB framework as it allows for more nimble capital management and a potential increase of share repurchases in the coming months contingent on board approval and market conditions.&#8221;<\/p>\n<div>\n<table id=\"convertedTablef094\" cellspacing=\"0\" cellpadding=\"0\" border=\"0\" class=\"prntblns\">\n<tr>\n<td class=\"prnsbtb0 prnrbrb0 prnvab prnsbtb0 prnpl6 prnsblb0 prnpr6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u00b9 BNY Mellon expects that its final SCB will be confirmed by the Federal Reserve later in 2021. <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<p>\n        <b>About BNY Mellon<\/b><br \/>\n        <br \/>BNY Mellon is a global investments company dedicated to helping its clients manage and service their financial assets throughout the investment lifecycle. Whether providing financial services for institutions, corporations or individual investors, BNY Mellon delivers informed investment and wealth management and investment services in 35 countries. As of\u00a0March 31, 2021, BNY Mellon had\u00a0$41.7 trillion\u00a0in assets under custody and\/or administration, and\u00a0$2.2 trillion\u00a0in assets under management. BNY Mellon can act as a single point of contact for clients looking to create, trade, hold, manage, service, distribute or restructure investments. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK). Additional information is available on\u00a0<a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3211696-1&amp;h=2773115456&amp;u=http%3A%2F%2Fwww.bnymellon.com%2F&amp;a=www.bnymellon.com\" rel=\"nofollow noopener\">www.bnymellon.com<\/a>. Follow us on Twitter @BNYMellon or visit our newsroom at\u00a0<a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3211696-1&amp;h=3086894990&amp;u=http%3A%2F%2Fwww.bnymellon.com%2Fnewsroom&amp;a=www.bnymellon.com%2Fnewsroom\" rel=\"nofollow noopener\">www.bnymellon.com\/newsroom<\/a>\u00a0for the latest company news.<\/p>\n<p>This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements, which may be expressed in a variety of ways, including the use of future or present tense language, relate to, among other things, BNY Mellon&#8217;s repurchases of common stock, common stock dividends, capital base, performance and ability to meet regulatory requirements. These statements are based upon current beliefs and expectations and are subject to significant risks and uncertainties (some of which are beyond BNY Mellon&#8217;s control). Actual outcomes may differ materially from those expressed or implied as a result of risks and uncertainties, including, but not limited to, the factors identified above and the risk factors and other uncertainties set forth in BNY Mellon&#8217;s Annual Report on Form 10-K for the year ended\u00a0December 31, 2020, the Quarterly Report on Form 10-Q for the quarter ended\u00a0March 31, 2021\u00a0and BNY Mellon&#8217;s other filings with the Securities and Exchange Commission. All statements in this press release speak only as of the date on which such statements are made, and BNY Mellon undertakes no obligation to update any statement to reflect events or circumstances after the date on which such forward-looking statement is made or to reflect the occurrence of unanticipated events.<\/p>\n<p>\n        <b>Analyst Contact:<\/b><br \/>\n        <br \/>\n        <span class=\"xn-person\">Marius Merz<\/span><br \/>\n        <br \/>212-298-1480 <br \/><a target=\"_blank\" href=\"mailto:marius.merz@bnymellon.com\" rel=\"nofollow noopener\">marius.merz@bnymellon.com<\/a><\/p>\n<p>\n        <b>Media Contact:<\/b><br \/>\n        <br \/>\n        <span class=\"xn-person\">Erin Smith<\/span><br \/>\n        <br \/>212-815-7170 <br \/><a target=\"_blank\" href=\"mailto:erin.smith@bnymellon.com\" rel=\"nofollow noopener\">erin.smith@bnymellon.com<\/a><\/p>\n<p>\u00a0<\/p>\n<p id=\"PURL\">\n        <img loading=\"lazy\" decoding=\"async\" title=\"Cision\" width=\"12\" height=\"12\" alt=\"Cision\" src=\"https:\/\/c212.net\/c\/img\/favicon.png?sn=NY26630&amp;sd=2021-06-28\" \/> View original content:<a id=\"PRNURL\" rel=\"nofollow\" href=\"https:\/\/www.prnewswire.com\/news-releases\/bny-mellon-announces-intention-to-increase-quarterly-common-stock-dividend-by-10-percent-to-0-34-per-share-and-authorization-to-repurchase-up-to-6-0-billion-of-common-stock-301321343.html\">https:\/\/www.prnewswire.com\/news-releases\/bny-mellon-announces-intention-to-increase-quarterly-common-stock-dividend-by-10-percent-to-0-34-per-share-and-authorization-to-repurchase-up-to-6-0-billion-of-common-stock-301321343.html<\/a><\/p>\n<p>SOURCE  BNY Mellon<\/p>\n<\/p><\/div>\n<p>    <img decoding=\"async\" alt=\"\" src=\"https:\/\/rt.prnewswire.com\/rt.gif?NewsItemId=NY26630&amp;Transmission_Id=202106281718PR_NEWS_USPR_____NY26630&amp;DateId=20210628\" style=\"border:0px;width:1px;height:1px\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>PR Newswire NEW YORK, June 28, 2021 \/PRNewswire\/ &#8212;\u00a0On June 24, 2021, the Federal Reserve released the results of the 2021 bank stress test, which demonstrates the resilience and strength of BNY Mellon&#8217;s business model and capital position. The Federal Reserve also notified the company that its Stress Capital Buffer (SCB) requirement, effective October 1, 2021, will remain 2.5%\u00b9, equal to the regulatory minimum. The Federal Reserve&#8217;s recent restrictions on common stock dividends and share repurchases applicable to the large banks that are subject to the supervisory stress test, including BNY Mellon, will end after June 30, 2021. The company intends to increase its quarterly cash dividend on its common stock by approximately 10% from\u00a0$0.31 to $0.34 per share, commencing &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/bny-mellon-announces-intention-to-increase-quarterly-common-stock-dividend-by-10-percent-to-0-34-per-share-and-authorization-to-repurchase-up-to-6-0-billion-of-common-stock\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;BNY Mellon Announces Intention to Increase Quarterly Common Stock Dividend by 10 Percent to $0.34 per Share and Authorization to Repurchase up to $6.0 Billion of Common Stock&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-507359","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>BNY Mellon Announces Intention to Increase Quarterly Common Stock Dividend by 10 Percent to $0.34 per Share and Authorization to Repurchase up to $6.0 Billion of Common Stock - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/bny-mellon-announces-intention-to-increase-quarterly-common-stock-dividend-by-10-percent-to-0-34-per-share-and-authorization-to-repurchase-up-to-6-0-billion-of-common-stock\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"BNY Mellon Announces Intention to Increase Quarterly Common Stock Dividend by 10 Percent to $0.34 per Share and Authorization to Repurchase up to $6.0 Billion of Common Stock - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"PR Newswire NEW YORK, June 28, 2021 \/PRNewswire\/ &#8212;\u00a0On June 24, 2021, the Federal Reserve released the results of the 2021 bank stress test, which demonstrates the resilience and strength of BNY Mellon&#8217;s business model and capital position. The Federal Reserve also notified the company that its Stress Capital Buffer (SCB) requirement, effective October 1, 2021, will remain 2.5%\u00b9, equal to the regulatory minimum. The Federal Reserve&#8217;s recent restrictions on common stock dividends and share repurchases applicable to the large banks that are subject to the supervisory stress test, including BNY Mellon, will end after June 30, 2021. The company intends to increase its quarterly cash dividend on its common stock by approximately 10% from\u00a0$0.31 to $0.34 per share, commencing &hellip; Continue reading &quot;BNY Mellon Announces Intention to Increase Quarterly Common Stock Dividend by 10 Percent to $0.34 per Share and Authorization to Repurchase up to $6.0 Billion of Common Stock&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/bny-mellon-announces-intention-to-increase-quarterly-common-stock-dividend-by-10-percent-to-0-34-per-share-and-authorization-to-repurchase-up-to-6-0-billion-of-common-stock\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2021-06-28T21:22:05+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/c212.net\/c\/img\/favicon.png?sn=NY26630&amp;sd=2021-06-28\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/bny-mellon-announces-intention-to-increase-quarterly-common-stock-dividend-by-10-percent-to-0-34-per-share-and-authorization-to-repurchase-up-to-6-0-billion-of-common-stock\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/bny-mellon-announces-intention-to-increase-quarterly-common-stock-dividend-by-10-percent-to-0-34-per-share-and-authorization-to-repurchase-up-to-6-0-billion-of-common-stock\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"BNY Mellon Announces Intention to Increase Quarterly Common Stock Dividend by 10 Percent to $0.34 per Share and Authorization to Repurchase up to $6.0 Billion of Common Stock\",\"datePublished\":\"2021-06-28T21:22:05+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/bny-mellon-announces-intention-to-increase-quarterly-common-stock-dividend-by-10-percent-to-0-34-per-share-and-authorization-to-repurchase-up-to-6-0-billion-of-common-stock\\\/\"},\"wordCount\":702,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/bny-mellon-announces-intention-to-increase-quarterly-common-stock-dividend-by-10-percent-to-0-34-per-share-and-authorization-to-repurchase-up-to-6-0-billion-of-common-stock\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/c212.net\\\/c\\\/img\\\/favicon.png?sn=NY26630&amp;sd=2021-06-28\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/bny-mellon-announces-intention-to-increase-quarterly-common-stock-dividend-by-10-percent-to-0-34-per-share-and-authorization-to-repurchase-up-to-6-0-billion-of-common-stock\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/bny-mellon-announces-intention-to-increase-quarterly-common-stock-dividend-by-10-percent-to-0-34-per-share-and-authorization-to-repurchase-up-to-6-0-billion-of-common-stock\\\/\",\"name\":\"BNY Mellon Announces Intention to Increase Quarterly Common Stock Dividend by 10 Percent to $0.34 per Share and Authorization to Repurchase up to $6.0 Billion of Common Stock - 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The Federal Reserve also notified the company that its Stress Capital Buffer (SCB) requirement, effective October 1, 2021, will remain 2.5%\u00b9, equal to the regulatory minimum. The Federal Reserve&#8217;s recent restrictions on common stock dividends and share repurchases applicable to the large banks that are subject to the supervisory stress test, including BNY Mellon, will end after June 30, 2021. The company intends to increase its quarterly cash dividend on its common stock by approximately 10% from\u00a0$0.31 to $0.34 per share, commencing &hellip; Continue reading \"BNY Mellon Announces Intention to Increase Quarterly Common Stock Dividend by 10 Percent to $0.34 per Share and Authorization to Repurchase up to $6.0 Billion of Common Stock\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/bny-mellon-announces-intention-to-increase-quarterly-common-stock-dividend-by-10-percent-to-0-34-per-share-and-authorization-to-repurchase-up-to-6-0-billion-of-common-stock\/","og_site_name":"Market Newsdesk","article_published_time":"2021-06-28T21:22:05+00:00","og_image":[{"url":"https:\/\/c212.net\/c\/img\/favicon.png?sn=NY26630&amp;sd=2021-06-28","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/bny-mellon-announces-intention-to-increase-quarterly-common-stock-dividend-by-10-percent-to-0-34-per-share-and-authorization-to-repurchase-up-to-6-0-billion-of-common-stock\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/bny-mellon-announces-intention-to-increase-quarterly-common-stock-dividend-by-10-percent-to-0-34-per-share-and-authorization-to-repurchase-up-to-6-0-billion-of-common-stock\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"BNY Mellon Announces Intention to Increase Quarterly Common Stock Dividend by 10 Percent to $0.34 per Share and Authorization to Repurchase up to $6.0 Billion of Common Stock","datePublished":"2021-06-28T21:22:05+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/bny-mellon-announces-intention-to-increase-quarterly-common-stock-dividend-by-10-percent-to-0-34-per-share-and-authorization-to-repurchase-up-to-6-0-billion-of-common-stock\/"},"wordCount":702,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/bny-mellon-announces-intention-to-increase-quarterly-common-stock-dividend-by-10-percent-to-0-34-per-share-and-authorization-to-repurchase-up-to-6-0-billion-of-common-stock\/#primaryimage"},"thumbnailUrl":"https:\/\/c212.net\/c\/img\/favicon.png?sn=NY26630&amp;sd=2021-06-28","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/bny-mellon-announces-intention-to-increase-quarterly-common-stock-dividend-by-10-percent-to-0-34-per-share-and-authorization-to-repurchase-up-to-6-0-billion-of-common-stock\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/bny-mellon-announces-intention-to-increase-quarterly-common-stock-dividend-by-10-percent-to-0-34-per-share-and-authorization-to-repurchase-up-to-6-0-billion-of-common-stock\/","name":"BNY Mellon Announces Intention to Increase Quarterly Common Stock Dividend by 10 Percent to $0.34 per Share and Authorization to Repurchase up to $6.0 Billion of Common Stock - 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