Bank of New York Mellon Corporation - BK STOCK NEWS

Buenaventura (NYSE: BVN; Lima Stock Exchange: BUE.LM), Peru's largest publicly traded precious and base metals company, announced its Second Quarter 2024 earnings conference call scheduled for July 26, 2024, at 11:00 AM Eastern Time. The event will feature CEO Leandro García Raggio and senior management. The second quarter results will be released on July 25, 2024, after market close.

The call can be accessed via a toll-free number in the US (+1 844 481 2914) or internationally (+1 412 317 0697). Participants can also use the provided link to receive an automatic call. A live webcast will be available, and a replay will be accessible for seven days post-conference.

Buenaventura operates several mines in Peru and holds a 19.58% stake in Sociedad Minera Cerro Verde. For more information, visit their website or contact Daniel Dominguez (CFO) or Gabriel Salas (Head of Investor Relations) in Lima, or Barbara Cano at InspIR Group in New York.

Arete Wealth, an independent broker-dealer and registered investment advisory firm managing over $6B in assets, has announced an expansion of its clearing and custodial services through long-term agreements with BNY Pershing. This partnership will provide Arete Wealth's advisors access to BNY Pershing X's Wove wealth management platform, which integrates tools like Wove Investor, Wove Data, and Wove Advisory's Portfolio Solutions to unify an investor's financial picture. This collaboration, hailed by both firms' executives, aims to support Arete's growth in traditional and alternative investments, including hedge funds, private equity, and real estate.

The Bank of New York Mellon (NYSE: BK) announced its Board of Directors declared dividends on its common and preferred stock. A quarterly common stock dividend of $0.47 per share will be payable on August 2, 2024, to shareholders of record as of July 22, 2024.

Dividends for noncumulative perpetual preferred stock, with a liquidation preference of $100,000 per share, will be paid on September 20, 2024, to holders of record as of September 5, 2024. The preferred dividends are as follows: $1,577.81 on Series A, $2,312.50 on Series F, $2,350.00 on Series G, $925.00 on Series H, and $937.50 on Series I.

BNY oversees $49.5 trillion in assets under custody and $2.0 trillion in assets under management as of June 30, 2024, serving a vast array of global financial institutions and governments.

The Bank of New York Mellon (NYSE: BK) reported its financial results for the second quarter of 2024. BNY posted earnings per share (EPS) of $1.25, a 10% increase compared to the same quarter last year. The company's total revenue for Q2 2024 was $4.3 billion, representing a 5% year-over-year growth. Net income for the quarter stood at $1.1 billion, up from $1 billion in Q2 2023. BNY's asset servicing fees rose by 8% to $2.5 billion, while its clearing services revenue increased by 6% to $1.2 billion. However, the company faced a 3% decline in interest income, which totaled $600 million. Operating expenses were reported at $2.7 billion, a 4% increase from the previous year, attributed to higher technology and compliance costs. The company's management will discuss these results during a conference call at 9:30 a.m. ET.

BNY Mellon Alcentra Global Multi-Strategy Credit Fund has announced the approval of its quarterly tender offer. The offer will commence on July 17, 2024, and expire on August 13, 2024, at 5:00 p.m. Eastern Time. It will cover 2.5% of the Fund's outstanding shares as of June 30, 2024, at the net asset value per share determined on the same date. The offer details will be included in the Fund's Offer to Purchase and related documents, which will be filed with the SEC and made available to shareholders. Shareholders can obtain more information and copies of the documents from Georgeson or the SEC’s website.

America250 has announced the first-ever awardees of 'America’s Field Trip,' a scholastic contest supported by BNY as the founding sponsor. A total of 75 students from 27 states and territories have been selected for unique field trip experiences at iconic American landmarks. The contest, which will continue through 2025 and 2026, encourages students to reflect on the meaning of America. Second-place awardees will receive $500 cash awards. The first-place winners will visit sites like the Statue of Liberty, Yellowstone National Park, and the Smithsonian museums. The aim is to inspire students through transformative experiences beyond the classroom and to engage them in the nation's collective history. The initiative is part of a larger effort by America250 to commemorate the 250th anniversary of the Declaration of Independence.

BNY Mellon Municipal Bond Infrastructure Fund (NYSE: DMB) has announced a monthly distribution of $0.0300 per share of common stock. This payment will be made on August 1, 2024, to shareholders on record as of July 18, 2024, which is also the ex-dividend date. The Fund aims to maintain stable monthly distributions based on projected performance, but adjustments may be made depending on market conditions and portfolio performance. BNY Mellon Investment Adviser, Inc., a part of BNY Investments, manages the Fund. BNY Investments, one of the world’s largest asset managers, oversees $2.0 trillion in assets. BNY Mellon , established in 1784, administers $48.8 trillion in assets and provides comprehensive financial asset management services. This release is informational and not investment advice.

BNY has appointed Jose Minaya as the Global Head of BNY Investments and Wealth, effective September 3, 2024. Minaya will succeed Hanneke Smits, who is set to retire but will remain as Chair of BNY Investments until the end of 2024 to facilitate the transition. Minaya brings decades of experience from his tenure at Nuveen, where he held roles such as President and Chief Investment Officer. His leadership is expected to enhance BNY's capabilities in managing and growing its global wealth segment. The appointment underscores BNY's commitment to expanding its asset management and wealth services on an international scale.

The Bank of New York Mellon (BNY) (NYSE: BK) announced on June 28, 2024, its intention to increase its quarterly cash dividend by 12% from $0.42 to $0.47 per share. This change is expected to start in the third quarter of 2024, pending approval by the Board of Directors.

The announcement follows the Federal Reserve's 2024 bank stress test results, released on June 26, 2024, which confirmed BNY's strong business model and capital position. The Stress Capital Buffer (SCB) requirement for BNY remains at 2.5%, effective from October 1, 2024, to September 30, 2025.

BNY will continue its share repurchase program, as previously approved by its Board of Directors in January 2023 and April 2024, influenced by capital position and market conditions.