BNY Mellon is seeking to repurchase its existing shares worth about $1.3 billion. The board of directors of the lender has also approved an increase to the current share repurchase program authorization. The move will bring the total common shares available for repurchase to nearly 47 million shares. BNY Mellon will buy back its shares by the end of the year. The investment management and investment services firm has also increased its quarterly dividend by 44%.

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