BNY Mellon Announces Intention to Increase Quarterly Common Stock Dividend by 14 Percent to $0.42 per Share

NEW YORK, June 30, 2023 /PRNewswire/ -- Today, BNY Mellon (NYSE: BK) announced its intention to increase its quarterly cash dividend on its common shares by 14% from $0.37 to $0.42 per share, commencing as early as the third quarter of 2023, subject to approval by the company's Board of Directors.

On June 28, 2023, the Federal Reserve released the results of its 2023 bank stress test, which demonstrate the resilience and strength of BNY Mellon's business model and capital position. The Federal Reserve also notified the company that its preliminary Stress Capital Buffer (SCB) requirement will remain 2.5%, equal to the regulatory floor. This SCB is expected to be effective from October 1, 2023 to September 30, 2024.

"The results of the Federal Reserve's 2023 bank stress test once again highlight BNY Mellon's capacity to withstand extreme stress scenarios," said Robin Vince, President and Chief Executive Officer of BNY Mellon. "Combined with the power and stability of our platforms and demonstrated ability to help clients navigate uncertain markets, resiliency is a commercial attribute and a key differentiator for us. This resiliency also positions us to deliver value for our shareholders, and so we are pleased to announce the company's intention to increase our common dividend while remaining committed to maintaining strong capital ratios."

The company continues to be authorized to repurchase common shares under its existing share repurchase program approved by the Board of Directors, as announced in January 2023. The timing, manner and amount of repurchases are subject to various factors, including the company's capital position and prevailing market conditions.

About BNY Mellon

Established in 1784, BNY Mellon is America's oldest bank and the first company listed on the New York Stock Exchange (NYSE: BK). Today, BNY Mellon powers capital markets around the world through comprehensive solutions that help clients manage and service their financial assets throughout the investment life cycle. BNY Mellon had $46.6 trillion in assets under custody and/or administration and $1.9 trillion in assets under management as of March 31, 2023. BNY Mellon has been named among Fortune's World's Most Admired Companies and Fast Company's Best Workplaces for Innovators. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation. Additional information is available on www.bnymellon.com. Follow us on LinkedIn or visit our Newsroom for the latest company news.

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'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'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's Annual Report on Form 10-K for the year ended December 31, 2022, the Quarterly Report on Form 10-Q for the quarter ended March 31, 2023 and BNY Mellon'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.

Contacts:

Media
Garrett Marquis
[phone]
[e-mail]

Analysts
Marius Merz
[phone]
[e-mail]

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SOURCE BNY Mellon