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BNY Mellon announces $1.35B repurchase authorization

BNY Mellon announced that the Federal Reserve did not object to its 2013 capital plan submitted in connection with its Comprehensive Capital Analysis and Review. As a result, the company's board of directors has approved the repurchase of up to $1.35B of its common stock, beginning in Q2 and continuing through 1Q14. The 2013 capital plan also included a 15% increase to BNY Mellon's quarterly dividend in Q2, which the board of directors is expected to consider at its April meeting.