The Bank of New York Mellon has repurchased for USD136m the warrant to purchase approximately 14.5 million shares of the company’s common stock that it had issued to the US Treasury as
The Bank of New York Mellon has repurchased for USD136m the warrant to purchase approximately 14.5 million shares of the company’s common stock that it had issued to the US Treasury as part of the Tarp Capital Purchase Programme.
In mid-June, the company repurchased the three million shares of its preferred stock which had been issued to the US Treasury as part of the Tarp Capital Purchase Programme.
The aggregate amount paid by the company to the US Treasury in connection with the repurchase of the preferred stock and the warrants, together with all dividends paid on the preferred stock, totalled USD3.231bn.
‘We see significant improvement in the financial markets and we are pleased to have been able to repay the US Treasury and provide taxpayers with a 12 per cent annual return on their investment in our company,’ says Robert P. Kelly, chairman and chief executive officer.
The Bank of New York Mellon Corporation is a global financial services company focused on helping clients manage and service their financial assets, operating in 34 countries and serving more than 100 markets.
