Welcome to our dedicated page for Bank New York Mellon news (Ticker: BK), a resource for investors and traders seeking the latest updates and insights on Bank New York Mellon stock.
BNY, officially known as The Bank of New York Corporation (NYSE: BK), stands as a global leader in the financial services sector. With a rich heritage dating back over 240 years, BNY offers a comprehensive suite of services aimed at managing and servicing financial assets for institutions, corporations, and individual investors.
Operating in 35 countries and more than 100 markets, the company provides investment management and investment services with unparalleled expertise. As of March 31, 2024, BNY oversees an impressive $48.8 trillion in assets under custody and/or administration and $2.0 trillion in assets under management. This makes BNY the world's largest global custody bank, serving as a vital partner to its clients by facilitating the creation, trading, holding, managing, servicing, distributing, or restructuring of investments.
BNY's client base includes over 90% of Fortune 100 companies, nearly all the top 100 banks globally, and an extensive roster of governments, pension plans, and more. The company's vast influence and industry leadership are further cemented by its recent collaborations and initiatives aimed at democratizing financial services. These include strategic partnerships with minority depository institutions (MDIs) such as Ponce Bank, along with other mission-driven financial firms like Optus Bank, MoCaFi, and IntraFi.
One of the latest milestones for BNY is the enhancement of Pershing X's Wove platform, which aims to revolutionize wealth management by providing interconnected advisory tools for registered investment advisors, broker-dealers, and wealth management firms. This innovation aligns with BNY's ongoing commitment to leverage cutting-edge technology for the benefit of its clients and the broader financial ecosystem.
With a workforce of over 50,000 employees worldwide and recognition from prestigious entities like Fortune and Fast Company for its workplace innovation, BNY continues to set industry standards. The firm remains dedicated to helping its clients achieve their financial ambitions by putting its extensive expertise and platforms to work, ensuring that money moves efficiently and securely across the globe.
Behavox announced its Q1 2024 financial results, reporting a 51% increase in revenue and marking its second consecutive quarter of profitability. The growth is driven by high demand for its AI-driven compliance solutions, particularly the Quantum AI product.
Major deals with BNY Mellon, Vitol, and Evercore, as well as successful implementation with Brevan Howard, have bolstered the company's revenue. Behavox aims for 20% operating margins by 2025 while continuing to invest in AI research.
The company's financial stability is underscored by its ongoing investment in cutting-edge AI technology, contributing to higher model accuracy and broader risk coverage.
On May 23, 2024, BNY Mellon Alcentra Global Multi-Strategy Credit Fund (XALCX) announced a distribution of $2.00 per share of common stock. This distribution is payable on June 24, 2024, to shareholders recorded by the close of business on June 7, 2024, which is also the ex-dividend date. The Fund aims to maintain quarterly distributions, reflecting its net investment income and broader market conditions. Managed under normal market conditions, the Fund's earnings depend on its asset mix, portfolio maturity, and hedging practices. BNY Mellon Investment Management, a division of BNY Mellon, oversees the Fund, managing $2.0 trillion in assets as of March 31, 2024.
On May 22, 2024, BNY Mellon Alcentra Global Credit Income 2024 Target Term Fund (NYSE: DCF) announced a monthly distribution of $0.035 per share, payable on June 21, 2024, to shareholders of record as of June 6, 2024. The ex-dividend date is June 6, 2024. This distribution matches the amount declared in April 2024. The Fund plans to distribute most of its net income in monthly dividends, though this could change based on market conditions and Board decisions. BNY Mellon Investment Management, the Fund's adviser, manages $2.0 trillion in assets as of March 31, 2024. BNY Mellon manages a total of $48.8 trillion in assets under custody/administration. Notably, the Fund's performance and share value can fluctuate, and there is no guarantee of achieving its investment objectives.
Buenaventura (NYSE: BVN; Lima Stock Exchange: BUE.LM), Peru's largest publicly-traded precious metals mining company, has announced a voluntary, temporary suspension of its El Brocal processing plant facilities. The suspension follows an unauthorized entry by a small group from the nearby Huaraucaca Community onto the property. Despite this, underground mining operations remain unaffected, with ore stockpiled for later processing. Buenaventura is confident that it will reach a peaceful resolution with the community through ongoing dialogue. The company's primary focus remains on the safety of its employees and facilities.
On May 21, 2024, the Board of Trustees of BNY Mellon High Yield Strategies Fund (NYSE: DHF) declared a monthly cash dividend of $0.0175 per share, payable on June 20, 2024, to shareholders of record as of June 5, 2024. The ex-dividend date is also June 5, 2024. This dividend amount remains unchanged from the previous month's dividend in April. BNY Mellon Investment Adviser, part of BNY Mellon Investment Management, oversees the fund. As of March 31, 2024, BNY Mellon Investment Management manages $2.0 trillion in assets, while BNY Mellon, established in 1784, holds $48.8 trillion in assets under custody and administration.
The Bank of New York Mellon (NYSE: BK) announced that it will reveal its second quarter 2024 financial results on July 12, 2024. The results will be made available on their website at around 6:30 a.m. ET, followed by a management-hosted conference call and live audio webcast at 9:30 a.m. ET the same day. Investors and stakeholders can access these materials and participate in the webcast for detailed insights into the company's performance.
BNY Mellon (NYSE: BK) has announced that its Chief Financial Officer, Dermot McDonogh, will speak at the Goldman Sachs European Financials Conference on June 6, 2024. The event in Madrid, Spain, will start at 3:00 p.m. CEST (9:00 a.m. ET).
BNY Mellon Alcentra Global Multi-Strategy Credit Fund announced the final results of its quarterly tender offer for 2.5% of its issued shares. The offer, which expired on May 14, 2024, was oversubscribed. Consequently, shares will be purchased on a pro-rata basis at a price of $91.43 per share, equivalent to the Fund's net asset value as of March 31, 2024. A total of 388,170 shares were tendered, and 46,530 shares will be bought back, resulting in a pro-ration factor of 0.120521. The Fund is part of BNY Mellon Investment Management, which manages $2.0 trillion in assets. Further details and documents can be obtained from Georgeson or the SEC's website.
BNY Mellon (NYSE:BK) has announced a collaboration with Ponce Bank through the U.S. Department of Treasury Financial Agent Mentor-Protégé Program. This partnership aims to support local businesses, housing, and services in underserved communities by providing mentorship and financial services to Ponce Bank. The alliance seeks to enhance Ponce Bank's role in economic growth and community development within the New York metro area.
BNY Mellon Municipal Income Fund, Inc. (NYSE: DMF) announced a distribution of $0.019 per share, payable on June 28, 2024, to shareholders on record as of June 14, 2024. The ex-dividend date is June 13, 2024. The increase in distribution is attributed to higher yields from investments. BNY Mellon Investment Management, with $2.0 trillion in assets under management, offers solutions across major asset classes.
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