Tuesday marks the last chance for investors to receive the next dividend payout from Bank of New York Mellon BK.
The company announced on Monday that it would pay shareholders a quarterly dividend of 37 cents per share. On Wednesday, 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 37 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, Wednesday. Shareholders who own BK as of the end of Tuesday's session are eligible to receive the 37 cents dividend payout for every share that they own.
According to the company, this dividend will be paid out to shareholders on November 10, 2022. Investors will then be able to either reinvest those dividends back into the stock or use the payment in some other way.
To keep track of which companies are distributing dividends, click here to visit our Dividends Calendar.
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