The US Federal Reserve has not objected to BNY Mellon’s comprehensive capital plan, which provides for second quarter capital actions, including a dividend increase and share repurchases.
"We are pleased that, after a review of our capital plan, the Fed has no objection to the execution of our plan to return capital to our shareholders by increasing our dividend and resuming our share repurchase program," says Robert P Kelly, BNY Mellon chairman and chief executive officer.
BNY Mellon is a global financial services company focused on helping clients manage and service their financial assets, operating in 36 countries and serving more than 100 markets. BNY Mellon is a leading provider of financial services for institutions, corporations and high-net-worth individuals, offering superior investment management and investment services through a worldwide client-focused team. It has USD25.0 trillion in assets under custody and administration and USD1.17 trillion in assets under management, services USD12.0 trillion in outstanding debt and processes global payments averaging USD1.6 trillion per day. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK). Additional information is available at www.bnymellon.com.