The Bank of New York Mellon Corporation (NYSE:BK) is included among the 12 Must-Buy Dividend Stocks to Invest in.
The Bank of New York Mellon Corporation, one of the world’s largest custodians with $55.8 trillion in assets under custody or administration, has been investing in digital assets and blockchain technology for several years. In July, it announced a collaboration with Goldman Sachs to use blockchain for maintaining ownership records of money market funds.
More recently, The Bank of New York Mellon Corporation has begun exploring tokenized deposits that would allow clients to make blockchain-based payments, as part of its broader push to modernize its infrastructure and enhance real-time, instant, and cross-border payment capabilities, according to Carl Slabicki, who leads Treasury Services at BNY.
Despite its growing focus on innovation, The Bank of New York Mellon Corporation’s dividend payments remain a key attraction for investors. The company currently offers a quarterly dividend of $0.53 per share, having raised it by 13% in July this year. Through this increase, the company stretched its dividend growth streak to 15 years. The stock supports a dividend yield of 1.98%, as of October 9.
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