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.
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