Bank of New York Mellon's Ex-Dividend Date Is Thursday, Here's What You Need To Know

Wednesday marks the last chance for investors to receive the next dividend payout from Bank of New York Mellon BK.

What's Happening

The company announced on Tuesday that it would pay shareholders a quarterly dividend of 42 cents per share. On Thursday, Bank of New York Mellon will go ex-dividend, meaning the stock will trade lower to reflect that payout. In other words, the stock will likely open 42 cents lower than it would have opened on any other day.

In order to be eligible to receive a company's dividend, shareholders must own the stock prior to the ex-dividend date—in this case, Thursday. Shareholders who own BK as of the end of Wednesday's session are eligible to receive the 42 cents dividend payout for every share that they own.

According to the company, this dividend will be paid out to shareholders on August 10, 2023. Investors will then be able to either reinvest those dividends back into the stock or use the payment in some other way.

Track real-time stock fluctuations for Bank of New York Mellon on Benzinga.