The Bank of New York Mellon Corporation announced its intention to increase its quarterly cash dividend on its common shares by 12% from $0.42 to $0.47 per share, commencing as early as the third quarter of 2024, subject to approval by the company's Board of Directors. On June 26, 2024, the Federal Reserve released the results of its 2024 bank stress test, which demonstrate the resilience and strength of BNY's business model and capital position. The Federal Reserve also notified the company that its preliminary Stress Capital Buffer (SCB) requirement will remain 2.5%, equal to the regulatory floor.

This SCB is expected to be effective from October 1, 2024, to September 30, 2025.