NEW YORK CITY (dpa-AFX) - The Bank of New York Mellon Corporation (BK) announced it will redeem all 10,000 outstanding shares of its Series G Noncumulative Perpetual Preferred Stock and the corresponding 1,000,000 Depositary Shares, each representing 1/100th of a share.
The redemption is scheduled for September 20, 2025, with payments made on September 22, 2025.
Each Depositary Share will be redeemed at $1,000, equivalent to $100,000 per Series G share, excluding the dividend payable on the same date to record holders. Following the redemption date, Series G shares and Depositary Shares will no longer be outstanding, and dividends will stop accruing.
BK currently trades at $105.92 or 1.85% higher on the NYSE.
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