Bank Of New York Mellon Boosts Quarterly Dividend By 14%
Portfolio Pulse from Lekha Gupta
Bank of New York Mellon Corp (NYSE:BK) has increased its quarterly dividend by 14% to $0.42 per share, starting from Q3 2023, following the Federal Reserve's 2023 bank stress test results. The company also plans to continue its share buyback programs. The Federal Reserve has notified the company that its preliminary Stress Capital Buffer (SCB) requirement will remain at 2.5%, effective October 1, 2023, to September 30, 2024.
July 03, 2023 | 12:19 pm
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POSITIVE IMPACT
Bank of New York Mellon's decision to increase its quarterly dividend and continue its share buyback programs could be seen as a positive sign by investors, potentially leading to a short-term increase in the company's stock price.
Dividend increases and share buybacks are generally seen as positive signals by investors, as they indicate that a company is confident in its financial health and future prospects. This could lead to increased demand for the company's shares, potentially driving up the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100