The redemption process involves 10,000 shares of Series F Preferred Stock, alongside their corresponding depositary shares, each representing a 1/100th interest. Investors will receive a payment of $1,000 per depositary share, totaling $100,000 for each full share of Series F stock. This payment is scheduled for distribution on September 21, 2026, following the official redemption date.
BNY to Redeem All Outstanding Series F Preferred Stock
The Bank of New York Mellon Corporation plans to retire its entire Series F Noncumulative Perpetual Preferred Stock portfolio, clearing the way for a full redemption of 1,000,000 depositary shares on September 20, 2026. This move effectively terminates the outstanding dividend accruals for these specific financial instruments.
Dividends payable to holders of record remain separate from this redemption price. Once the September 20 deadline passes, these shares will no longer be considered outstanding. Since all depositary shares are held in book-entry form through The Depository Trust Company, the redemption will proceed automatically according to their standard protocols. Investors with beneficial interests should coordinate directly with their respective banks or brokers to facilitate the receipt of funds.
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