BONY Mellon Spits the Bit

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From Reuters:
Bank of New York Mellon Corp (BK) lowered its dividend 63 percent to build capital, after a decline in fees resulting from falling equity markets caused first-quarter profit to decline more than expected.  Net income attributable to common shareholders declined 57 percent to $322 million, or 28 cents per share, from $746 million, or 65 cents per share, a year earlier, the bank said.

BK  indicating lower by 7% as of 8:30.  Uggghh.

Bank of New York Mellon Earnings (Reuters)

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