The Bank of New York Company, Inc. Increases Quarterly Dividend
NEW YORK, July 11, 2006 -- The Bank of New York Company, Inc. today announced that its Board of Directors declared a quarterly cash dividend of 22 cents per share on the outstanding shares of the Company’s Common Stock, a 4.8% increase over the 21 cents paid in the previous quarter. The increase results in an annual rate of 88 cents per share. The dividend is payable on August 4, 2006, to holders of record as of the close of business on July 26, 2006.
A dividend of 48.4375 cents per share was declared on the Company’s 7.75% Cumulative Convertible Preferred Stock for the period from July 2, 2006, through October 1, 2006. The dividend is payable on October 2, 2006, to holders of record as of the close of business on September 15, 2006.
The Bank of New York Company, Inc. (NYSE: BK) is a global leader in providing a comprehensive array of services that enable institutions and individuals to move and manage their financial assets in more than 100 markets worldwide. The Company has a long tradition of collaborating with clients to deliver innovative solutions through its core competencies: securities servicing, treasury management, asset management, and private banking. The Company’s extensive global client base includes a broad range of leading financial institutions, corporations, government entities, endowments and foundations. Its principal subsidiary, The Bank of New York, founded in 1784, is the oldest bank in the United States and has consistently played a prominent role in the evolution of financial markets worldwide. Additional information is available at www.bankofny.com.
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