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 a public offering of $500 million in depositary shares representing interests in its Series K Noncumulative Perpetual Preferred Stock. Each share is priced at $25, with dividends accruing at 6.150% per annum until 2030.
March 07, 2025 | 11:30 pm
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BNY Mellon has launched a $500 million public offering of depositary shares linked to its Series K Preferred Stock, offering a 6.150% annual dividend rate until 2030.
The offering of depositary shares is likely to attract investors seeking stable dividend income, potentially boosting BNY Mellon's stock price in the short term. The 6.150% dividend rate is attractive in the current market environment.
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