Welcome to our dedicated page for Bank of New York Mellon Corporation news (Ticker: BK), a resource for investors and traders seeking the latest updates and insights on Bank of New York Mellon Corporation 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.
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.
BNY Mellon's Pershing has announced the agenda for INSITE 2024, a financial advisory conference in Nashville, featuring keynote speakers like Keith Urban and Fawn Weaver. The event will focus on leveraging technology and innovation to provide next-level solutions for clients. Highlights include platform enhancements, industry insights, and live performances.
BNY Mellon Municipal Bond Infrastructure Fund, Inc. (NYSE: DMB) announced a distribution of $0.0300 per share of common stock, payable on June 3, 2024, to shareholders of record at the close of business on May 17, 2024. The Fund intends to make regular monthly distributions based on projected performance. BNY Mellon Investment Management, with $2.0 trillion in assets under management, is one of the world’s largest asset managers. The Fund's investment returns and principal values may fluctuate based on market conditions.
Buenaventura, Peru's largest precious metals mining company, announced its first-quarter 2024 results. The company reported an EBITDA of US$94.4 million, a net income of US$67.1 million, and a cash position of US$174.0 million. Buenaventura obtained its final operating permit for the Yumpag mine, enabling production of 1,000 tons per day. The company received US$29.4 million in dividends from Cerro Verde. Financial highlights show a 33% increase in total revenues from 1Q23, with an 83% rise in EBITDA from direct operations. However, net income decreased by 5% compared to 1Q23.
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