The Bank of New York Mellon Corporation has repurchased for USD136 million the warrant to purchase approximately 14.5 million shares of the company’s common stock that the company had issued to the U.S. Treasury as part of the TARP Capital Purchase Program.
In mid-June, the company repurchased the 3 million shares of its preferred stock which had been issued to the U.S. Treasury as part of the TARP Capital Purchase Program. The aggregate amount paid by the company to the U.S. Treasury in connection with the repurchase of the preferred stock and the warrants, together with all dividends paid on the preferred stock, totaled USD3.231 billion.
“We see significant improvement in the financial markets and we are pleased to have been able to repay the U.S. Treasury and provide taxpayers with a 12% annual return on their investment in our company,” says Robert P. Kelly, chairman and chief executive officer.
L.D.