Bank of New York Mellon (BK) will raise its quarterly dividend by 9.7 percent to 34 cents per share in 2021. This follows a dividend hike of 10.7 percent in 2019 and will mark 11 straight years of dividend increases.

The next dividend is payable on August 9, 2021 to shareholders of record as of the close of business on July 27, 2021. The new annual dividend of $1.36 per share yields 2.8% at a stock price of $48.68.

The Bank of New York Mellon Corporation is an investments company. BNY Mellon is a global company that manages and services assets for financial institutions, corporations and individual investors in 35 countries. BNY Mellon has two business segments, Investment Services and Investment Management. Established in 1784 by Alexander Hamilton, BK was the first company listed on the New York Stock Exchange.