BNY Announces Pricing of Public Offering of $500,000,000 of Depositary Shares Representing Interests in Preferred Stock
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The Bank of New York Mellon Corporation (BNY) announced the pricing of a $500 million public offering of depositary shares representing interests in its Series J Noncumulative Perpetual Preferred Stock. Each depositary share is priced at $1,000, with dividends accruing at 6.3% per annum until 2030.
March 03, 2025 | 11:30 pm
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BNY Mellon has announced a $500 million public offering of depositary shares linked to its Series J Preferred Stock, with a 6.3% dividend rate until 2030. This move could impact the stock price as it reflects the company's strategy to raise capital.
The offering of depositary shares is a significant capital-raising activity for BNY Mellon, which may influence investor perception and stock price. However, as it is a preferred stock offering, the direct impact on common stock price may be neutral in the short term.
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