BNY Mellon’s (BK) Push into Digital Assets Strengthens its Case as a Must-Buy Dividend Stock

Group 1 - The Bank of New York Mellon Corporation (BK) is recognized as a must-buy dividend stock due to its strong dividend payments and ongoing investments in digital assets and blockchain technology [1][2]. - BNY Mellon has $55.8 trillion in assets under custody or administration, making it one of the largest custodians globally [2]. - The company has partnered with Goldman Sachs to utilize blockchain for maintaining ownership records of money market funds, showcasing its commitment to innovation [2][3]. Group 2 - BNY Mellon is exploring tokenized deposits to facilitate blockchain-based payments, enhancing its infrastructure for real-time and cross-border payment capabilities [3]. - The company currently offers a quarterly dividend of $0.53 per share, which was raised by 13% in July, extending its dividend growth streak to 15 years [4]. - As of October 9, BNY Mellon supports a dividend yield of 1.98%, making it attractive for income-focused investors [4].