01—Abstract
Summary
Summary of the 8-K filed September 11, 2025. Cited figures are marked; the original filing is the authoritative source.
The Bank of New York Mellon Corporation (BNY, NYSE: BK) announced it will redeem all 10,000 outstanding shares of its Series G Noncumulative Perpetual Preferred Stock and all 1,000,000 corresponding Depositary Shares, each representing a 1/100th interest in a share of Series G Preferred.
The redemption date is September 20, 2025, which is also a regular dividend payment date for the preferred. Holders will receive $1,000 per Depositary Share, equivalent to $100,000a per share of Series G Preferred, or roughly $1.0 billion in aggregate principal redemption. Payment is scheduled for September 22, 2025.
The redemption payment excludes any separately declared dividend payable on the Payment Date to holders of record on the applicable record date. Dividends stop accruing on the Redemption Date. For common shareholders, this is a routine capital-structure action: retiring perpetual preferred stock removes a fixed-dividend obligation and reduces preferred equity.
The filing does not state the reason for the redemption or its effect on regulatory capital ratios, so investors should review BNY's subsequent disclosures or earnings materials for those details. Depositary Shares are redeemed through DTC, and holders should contact their broker or bank for payment.
02—Key points
Key Highlights
- BNY will redeem all 10,000 shares of its Series G Noncumulative Perpetual Preferred Stock and all 1,000,000 related Depositary Shares.
- Redemption Date is September 20, 2025, coinciding with a scheduled dividend payment date; dividends stop accruing from that date.
- Redemption price is $1,000 per Depositary Share ($100,000 per preferred share), implying an aggregate payout of approximately $1.0 billion.
- Payment of the redemption amount is due September 22, 2025; accrued dividends for the period are not included in the redemption payment.
- Redemption is processed through DTC for book-entry Depositary Shares; Computershare is the depositary, transfer agent, and registrar.
- The filing does not disclose the reason for the redemption or its impact on capital ratios or earnings.
- The press release was furnished as Exhibit 99.1 under Item 8.01 (Other Events), so this is not a material financial restatement or earnings event.
03—Questions
Frequently Asked Questions
How much cash will be paid out in this redemption?
The redemption price is $1,000 per Depositary Share, or $100,000 per Series G Preferred share. With 1,000,000 Depositary Shares outstanding, the aggregate redemption payment is approximately $1.0 billion, excluding any separately declared dividend.
When do holders receive their money, and do they also get the dividend?
The redemption date is September 20, 2025, and payment is scheduled for September 22, 2025. The redemption payment does not include the dividend payable on the Payment Date to holders of record on the applicable dividend record date, which is a separate payment.
Does this affect BNY's common shareholders?
The filing describes a routine redemption of preferred stock. Retiring the preferred removes its fixed dividend obligation going forward. The filing does not quantify the effect on earnings per share, capital ratios, or total shareholder equity, so investors should consult BNY's financial reporting for those impacts.
What do I need to do as a holder of Depositary Shares?
No action is required beyond what the broker or bank holding your beneficial interest provides. Redemption occurs through DTC's book-entry procedures. Holders should contact their broker or bank for information on receiving the redemption payment, or Computershare for registry questions.
04—Continue