NEW YORK, April 7, 2014 /PRNewswire/ -- BNY Mellon, the global leader in investment management and investment services, today announced that its board of directors has approved a 13 percent increase in its quarterly common stock dividend, from $0.15 per share to $0.17 per share. This increased quarterly common stock dividend is payable on May 7, 2014 to shareholders of record as of the close of business on April 25, 2014.
The dividend increase and the previously announced common stock repurchases of up to $1.74 billion were part of BNY Mellon's 2014 capital plan, which was not objected to by the Federal Reserve.
"We are pleased that our business model provides us with the financial flexibility to deploy our capital in the form of dividends, as well as share repurchases," said Gerald L. Hassell, BNY Mellon chairman and chief executive officer.
BNY Mellon also declared the following dividends for the noncumulative perpetual preferred stock, liquidation preference $100,000 per share, for the dividend period ending in June 2014, in each case, payable on June 20, 2014 to holders of record as of the close of business on June 5, 2014:
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 management and investment services in 35 countries and more than 100 markets. As of December 31, 2013, BNY Mellon had $27.6 trillion in assets under custody and/or administration, and $1.6 trillion in 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 www.bnymellon.com, or follow us on Twitter @BNYMellon.
* * * * *
The information presented in this news release may contain 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's dividends and share repurchase plans. These statements are based upon current beliefs and expectations and are subject to significant risks and uncertainties (some of which are beyond BNY Mellon's control). Factors that could cause BNY Mellon's results to differ materially can be found in the risk factors set forth in BNY Mellon's Annual Report on Form 10-K for the year ended December 31, 2013 and BNY Mellon's other filings with the Securities and Exchange Commission. All statements in this news release speak only as of April 7, 2014, and BNY Mellon undertakes no obligation to update any statement to reflect events or circumstances after April 7, 2014 or to reflect the occurrence of unanticipated events.
SOURCE BNY Mellon