NEW YORK, Jan. 12, 2024 /PRNewswire/ -- The Bank of New York Mellon Corporation (NYSE: BK) today announced that its Board of Directors declared dividends on its common and preferred stock as follows: Common – a quarterly common stock dividend of $0.42 per share, payable on February 2, 2024 to shareholders of record as of the close of business on January 22, 2024. Preferred – the following dividends for the noncumulative perpetual preferred stock, liquidation preference $100,000 per share, for the dividend p ...

NEW YORK, Jan. 12, 2024 /PRNewswire/ -- BNY Mellon has reported financial results for the fourth quarter 2023. The company's earnings release along with the quarterly financial highlights and other earnings-related documents are available at www.bnymellon.com/investorrelations. Management will host a conference call and simultaneous live audio webcast at 1:00 p.m. ET today. This conference call and audio webcast will include forward-looking statements and may include other material information. Conference C ...

NEW YORK--(BUSINESS WIRE)--BNY Mellon Alcentra Global Multi-Strategy Credit Fund, Inc. (the "Fund") today announced that the Fund's Board of Directors has approved the Fund's quarterly tender offer (the "Tender Offer") with the following terms: Number of Shares 2.5% of the Fund's outstanding shares as of December 31, 2023 Commencement Date January 17, 2024 Expiration Date and Time February 13, 2024 at 5:00 p.m. Eastern Time, unless otherwise extended Price Net asset value per s ...

NEW YORK--(BUSINESS WIRE)--BNY Mellon Municipal Bond Infrastructure Fund, Inc. (NYSE: DMB) today announced a distribution of $0.0300 per share of common stock, payable on February 1, 2024 to shareholders of record at the close of business on January 19, 2024. The ex-dividend date is January 18, 2024. The previous distribution announced in December was $0.0300 per share of common stock. The Fund intends to make regular monthly distributions to its common shareholders at a level rate based on its projected p ...

NEW YORK--(BUSINESS WIRE)--BNY Mellon Investment Adviser, Inc. announced today that BNY Mellon Municipal Income, Inc., BNY Mellon Strategic Municipal Bond Fund, Inc. and BNY Mellon Strategic Municipals, Inc. (each, a "Fund") have declared a monthly distribution for each Fund's common shares as summarized below. The distributions are payable January 31, 2024 to shareholders of record on January 16, 2024, with an ex-dividend date of January 12, 2024.     Fund     Ticker Monthly Distribution ...

Financial Performance - Total revenue for Q3 2023 was $4,374 million, a slight decrease of 1.8% from $4,454 million in Q2 2023 and an increase of 2.2% from $4,279 million in Q3 2022[204]. - Net income applicable to common shareholders for Q3 2023 was $956 million, down 7.3% from $1,031 million in Q2 2023 and up significantly from $319 million in Q3 2022[206]. - Earnings per share (EPS) for Q3 2023 was $1.23 (basic) and $1.22 (diluted), compared to $1.31 (basic) and $1.30 (diluted) in Q2 2023, and $0.39 in Q3 2022[208]. - Comprehensive income applicable to shareholders for Q3 2023 was $835 million, compared to $1,008 million in Q2 2023 and a loss of $932 million in Q3 2022[210]. - Year-to-date net income applicable to common shareholders reached $2,892 million as of September 30, 2023, compared to $1,853 million for the same period in 2022[206]. - Net income for the nine months ended September 30, 2023, was $3,085 million, compared to $2,017 million for the same period in 2022, representing a 53% increase[215]. - Net income for the quarter ending September 30, 2023, was $1,041 million, compared to $1,068 million for the previous quarter, reflecting a decrease of approximately 2.5%[217]. Revenue Sources - Total fee and other revenue for Q3 2023 was $3,355 million, slightly up from $3,353 million in Q3 2022, reflecting a growth of 0.1%[289]. - Investment services fees for Q3 2023 amounted to $1,259 million, an increase from $1,233 million in Q3 2022, marking a growth of 2.1%[289]. - Total fee and other revenue for the third quarter of 2023 was $4,511 million, compared to $3,082 million in the same quarter of 2022, representing an increase of 46.3%[298]. - Net interest revenue for the third quarter of 2023 was $1,016 million, compared to $926 million in the same quarter of 2022, reflecting a year-over-year increase of 9.7%[298]. Expenses and Provisions - Total noninterest expense for Q3 2023 was $3,089 million, a slight decrease from $3,111 million in Q2 2023 and a significant decrease from $3,679 million in Q3 2022[204]. - The provision for credit losses was $3 million in Q3 2023, compared to $5 million in Q2 2023 and a recovery of $30 million in Q3 2022[204]. - The provision for credit losses for the quarter was $11 million, reflecting a decrease from $30 million in the previous quarter[249]. - Noninterest expense totaled $3,089 million, with the highest allocation to Securities Services at $1,585 million[400]. Assets and Liabilities - Total assets as of September 30, 2023, were $405,248 million, slightly down from $405,783 million at the end of 2022[213]. - Total liabilities decreased to $364,117 million from $364,933 million, reflecting a reduction of about 0.2%[213]. - Total deposits decreased to $277,467 million from $278,970 million, a decline of approximately 0.5%[213]. - Total permanent equity as of September 30, 2023, was $41,022 million, an increase from $40,998 million at June 30, 2023[218]. Securities and Investments - Total available-for-sale securities as of September 30, 2023, amounted to $83,074 million, with gross unrealized losses of $6,170 million[228]. - The total fair value of held-to-maturity securities was $51,007 million, reflecting gross unrealized losses of $6,798 million[228]. - The total market value of securities received that can be sold or repledged was $191 billion as of September 30, 2023, compared to $115 billion at December 31, 2022, showing a significant increase of 66.96%[243]. - The total amount of available-for-sale securities was $77.22 billion with an average yield of 2.97% as of September 30, 2023[242]. Credit Quality and Losses - The allowance for credit losses increased to $211 million from $176 million, indicating a rise in provisions for potential loan defaults[213]. - Nonperforming loans totaled $46 million as of September 30, 2023, compared to $107 million as of December 31, 2022[253]. - The total allowance for loan losses was $191 million, an increase from $164 million in the previous quarter[250]. - The total allowance for credit losses for the nine months ended September 30, 2023, was $254 million[251]. Shareholder Returns - The company repurchased $450 million of common stock during the quarter, contributing to a total treasury stock of $(26,696) million[217]. - Dividends paid on common stock were $333 million at a rate of $0.42 per share for the quarter ending September 30, 2023[217]. - Common stock dividends amounted to $860 million at a rate of $1.05 per share[222]. Tax and Regulatory Matters - The effective tax rate for the third quarter of 2023 was 18.8%, down from 38.4% in the same quarter of 2022[302]. - The company’s total tax reserves as of September 30, 2023, were $109 million, compared to $106 million at December 31, 2022[303]. - The company is cooperating with inquiries from the SEC and the Commodity Futures Trading Commission regarding compliance with recordkeeping obligations[393]. Legal and Compliance Issues - BNY Mellon is currently unable to estimate a range of reasonably possible loss for certain legal matters, but the aggregate range of reasonably possible loss is up to $590 million in excess of any accrued liability[389]. - In a lawsuit filed by Postalis, a judgment of approximately $2 million was entered against DTVM and Ativos, which is currently under appeal[390]. - The German tax authorities have issued secondary liability notices totaling approximately $150 million related to pre-acquisition activities in various funds[392].

Financial Data and Key Metrics Changes - Earnings per share (EPS) for Q3 2023 was $1.22, compared to $0.39 in Q3 2022, with an adjusted EPS of $1.27 reflecting a 5% year-over-year increase [5][22] - Return on tangible common equity was 20% on $4.4 billion of revenue, up 2% year-over-year, with a pre-tax margin of 29% [5][22] - Net interest revenue increased by 10% year-over-year, driven by rising interest rates [6][20] Business Line Data and Key Metrics Changes - Security Services reported total revenue of $2.1 billion, up 1% year-over-year, with net interest revenue up 12% [27] - Market and Wealth Services total revenue was $1.4 billion, up 6% year-over-year, with investment services fees up 2% [29] - Investment and Wealth Management reported total revenue of $827 million, down 4% year-over-year, with net interest revenue declining by 33% [32] Market Data and Key Metrics Changes - Firm-wide assets under custody/administration reached $45.7 trillion, up 8% year-over-year, while assets under management increased by 3% to $1.8 trillion [21] - The number of funds serviced on the platform continued to grow, with ETFs assets under custody/administration up over 20% year-over-year [28] Company Strategy and Development Direction - The company is focused on three strategic pillars: enhancing client service, improving operational efficiency, and fostering a collaborative culture [8][19] - A commitment to drive higher underlying growth and improve pre-tax margins over time has been established [8][19] - The company is adopting a platform operating model to reduce silos and improve client experiences [63][64] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the company's strategic objectives and the potential for revenue growth through innovation and efficiency improvements [19][35] - The company is on track to deliver a 20% growth in net interest revenue for the full year 2023, despite a challenging operating environment [34][40] - Management acknowledged the need for continued discipline in managing expenses while investing in growth opportunities [50][52] Other Important Information - The company returned $450 million to shareholders through share repurchases and paid approximately $330 million in dividends, reflecting a 14% dividend increase [22][23] - The Tier 1 leverage ratio improved to 6.1%, and the CET1 ratio was 11.4%, indicating strengthened capital ratios [23] Q&A Session Summary Question: NII outlook and deposit trajectory - Management reaffirmed guidance for 20% NII growth for the year, noting a slowdown in deposit decline and a modest pickup in September and October [38][40] Question: Expense outlook and flexibility - Management emphasized the importance of bending the cost curve and expressed confidence in achieving a growth rate closer to 3% for expenses in 2023 [42][44] Question: Confidence in deposit stability - Management highlighted the diversified nature of the deposit base and expressed confidence in the stability of deposits moving forward [46][48] Question: Capital and buyback strategy - Management indicated that buybacks would remain consistent with previous quarters, with a cautious approach due to market volatility [71][72] Question: Growth in clearance and collateral management - Management noted that growth in this segment was driven by market volatility and treasury issuance, with expectations for continued growth [74]

3Q23 Financial Highlights O C T O B E R 1 7 , 2 0 2 3 3Q23 Financial Highlights • Revenue up 2% YoY Revenue EPS – Fee revenue flat YoY 4.4 1.22 $ bn $ – Net interest revenue up 10% YoY • Expense down 16% YoY, up 3%(b) excluding notable items P ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the Quarterly Period Ended June 30, 2023 or ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Commission File Number 001-35651 THE BANK OF NEW YORK MELLON CORPORATION (Exact name of registrant as specified in its charter) Delaware 13-2614959 (State or other jurisdiction of incorporation or orga ...

The Bank of New York Mellon Corporation (NYSE:BK) Q2 2023 Earnings Conference Call July 18, 2023 10:30 AM ET Company Participants Marius Merz - Head of Investor Relations Robin Vince - President and Chief Executive Officer Dermot McDonogh - Chief Financial Officer Conference Call Participants Brennan Hawken - UBS Alex Blostein - Goldman Sachs Betsy Graseck - Morgan Stanley Steven Chubak - Wolfe Research Glenn Schorr - Evercore ISI Ebrahim Poonawala - Bank of America Securities Kenneth Usdin - Jefferies Bria ...