PITTSBURGH -- Mellon Bank Corp. approved a three for two stock split and boosted the bank's pre-split quarterly dividend to 67.5 cents from 56 cents.

The stock split is structured as a special stock dividend of an additional common Share paid on every two currently outstanding. It will be payable Nov. 15 to shareholders of record Nov. 1.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.