bank of new york mellon corp bk boosted its quarterly dividend following the release of the federal reserves 2023 bank stress test results bk raised the quarterly dividend per share by 14 to 042 from 037 beginning q3 2023 also the company plans to continue its previously announced shares buyback authorization programs robin vince president and ceo commented combined with the power and stability of our platforms and demonstrated ability to help clients navigate uncertain markets resiliency is a commercial attribute and a key differentiator for us this resiliency also positions us to deliver value for our shareholders and so we are pleased to announce the companys intention to increase our common dividend while remaining committed to maintaining strong capital ratios on june 28 the federal reserve notified the company that its preliminary stress capital buffer scb requirement would remain at 25 equivalent to the regulatory floor effective october 1 2023 to september 30 2024 in april bk clocked a firstquarter revenue increase of 11 yy to 436 billion almost in line with the consensus of 440 billion and adjusted eps totaled 113 beating the consensus estimate of 112 the financial enterprises assets under management totaled 19 trillion at the quarters end related jpmorgan wells fargo and morgan stanley to pay higher dividends after clearing fed stress test price action bk shares closed higher by 072 at 4452 on friday