By Stephen NakrosisBank of New York Mellon said it plans, as early as the third quarter, to raise its quarterly dividend to 42 cents per share from 37 cents, subject to approval from its board. BNY Mellon also said the Federal Reserve notified the company that preliminary Stress Capital Buffer requirement will remain 2.5%. The buffer is expected to be effective Oct. 1 of this year to Sept. 30, 2024.

Source: Wall Street Journal June 30, 2023 21:03 UTC