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Cash Dividend On The Way From Bank of New York Mellon Corp's Series C Noncumulative Perpetual Preferred Stock

On 9/4/19, Bank of New York Mellon Corp's Series C Noncumulative Perpetual Preferred Stock (Symbol: BK.PRC) will trade ex-dividend, for its quarterly dividend of $0.325, payable on 9/20/19. As a percentage of BK.PRC's recent share price of $25.84, this dividend works out to approximately 1.26%, so look for shares of BK.PRC to trade 1.26% lower — all else being equal — when BK.PRC shares open for trading on 9/4/19. On an annualized basis, the current yield is approximately 5.06%, which compares to an average yield of 5.51% in the "Financial" preferred stock category, according to Preferred Stock Channel. The chart below shows the one year performance of BK.PRC shares, versus BK:

Performance Comparison Chart

Below is a dividend history chart for BK.PRC, showing historical dividends prior to the most recent $0.325 on Bank of New York Mellon Corp's Series C Noncumulative Perpetual Preferred Stock:

BK.PRC+Dividend+History+Chart

In Tuesday trading, Bank of New York Mellon Corp's Series C Noncumulative Perpetual Preferred Stock (Symbol: BK.PRC) is currently up about 0.5% on the day, while the common shares (Symbol: BK) are down about 1.7%.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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