BNY (NYSE:BK) to Issue Quarterly Dividend of $0.53

Key Points

• BNY will pay a quarterly dividend of $0.53 per share, payable May 8 to shareholders of record April 27, equal to $2.12 annualized and a ~1.6% yield.
• BNY has increased its dividend annually for 14 consecutive years and carries a payout ratio around 28%, indicating the dividend is comfortably covered by earnings.
• The bank beat Q results with $2.25 EPS vs. $1.91 expected and $5.41B revenue vs. $5.14B expected; shares rose about 2.1% to $134.69, with a market cap near $92.7B and a P/E of ~18.2.

BNY (NYSE:BK - Get Free Report) announced a quarterly dividend on Thursday, April 16th. Shareholders of record on Monday, April 27th will be paid a dividend of 0.53 per share by the bank on Friday, May 8th. This represents a c) annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend is Monday, April 27th.

BNY has raised its dividend payment by an average of 0.1%per year over the last three years and has raised its dividend annually for the last 14 consecutive years. BNY has a payout ratio of 28.0% meaning its dividend is sufficiently covered by earnings. Equities analysts expect BNY to earn $7.83 per share next year, which means the company should continue to be able to cover its $2.12 annual dividend with an expected future payout ratio of 27.1%.

BNY Trading Up 2.1%

Shares of BK stock traded up $2.73 on Thursday, hitting $134.69. The stock had a trading volume of 7,183,297 shares, compared to its average volume of 3,812,679. BNY has a twelve month low of $73.55 and a twelve month high of $135.80. The firm has a market cap of $92.70 billion, a P/E ratio of 18.18, a PEG ratio of 1.05 and a beta of 1.06. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.81. The company has a fifty day moving average price of $119.79 and a two-hundred day moving average price of $115.57.

BNY (NYSE:BK - Get Free Report) last posted its quarterly earnings data on Thursday, April 16th. The bank reported $2.25 EPS for the quarter, beating the consensus estimate of $1.91 by $0.34. The business had revenue of $5.41 billion for the quarter, compared to analysts' expectations of $5.14 billion. BNY had a net margin of 13.62% and a return on equity of 14.37%. The firm's revenue was up 12.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.58 EPS. As a group, analysts forecast that BNY will post 6.96 earnings per share for the current fiscal year.

About BNY

BNY, formerly known as BNY Mellon, is a global financial services company headquartered in New York City. Formed in 2007 through the merger of the Bank of New York and Mellon Financial Corporation, BNY traces its roots back to 1784, making it one of the oldest banking institutions in the United States. It was also the first company listed on the New York Stock Exchange.

BNY operates at the center of the world's capital markets, partnering with clients to help them operate more efficiently and accelerate growth.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.