Shares of Bank of New York Mellon (BK) will begin trading ex-dividend on Friday, April 28. To qualify for a dividend check, investors must have owned BNY Mellon shares prior to Friday, which is the last day the company's management will finalize its roster of shareholders to whom it will mail payments. 

BNY Mellon stock, which currently trades around $47 per share, has declined about 0.06% year to date, including some 5.6% returns in the past three months. This compares with a 6.04% year-to-date rise in the S&P 500 index (SPX). BNY Mellon stock has risen 14.93% over the past twelve months, while the S&P 500 has risen 13.7%. (See also: BNY Mellon's (BK) Q1 Earnings & Revenues Meet Expectations)

In its fiscal first quarter earnings results, reported in January, the New York-based company beat Wall Street estimates on earnings per share and beat on revenue. The company reported an adjusted earnings of 83 cents per share, which beat analysts' projections by 3 cents. First quarter revenue of $3.84 billion grew 2.7% year over year, beating Wall Street estimates by $10 million.

Looking ahead, for the fiscal second quarter ending March, BNY Mellon is expected to deliver 80 cents per share, up from 74 cents a year ago, on revenue of $3.83 billion, up 2.6% year over year. For the full year, ending December, earnings are projected to rise 9.7% year over year to $3.48 per share, while revenue of $15.76 billion would mark a 3.5% rise year over year.

Based on BNY Mellon current stock price of around $47, the company’s 19-cent per share quarterly dividend yields 1.62% annually, or about 38 basis points below the 2.00% average yield of the S&P 500 index. BNY Mellon will send its dividend payment on May 12 to shareholders of record as of May 2. The stock has a consensus Hold rating and an average analyst 12-month price target of $52, implying potential returns of 9.5% from current levels.

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