Consider Bank of New York Mellon for a Dividend-Oriented Portfolio

Bank of New York Mellon (BK), an asset management and securities services company, is paying a $0.96 annual dividend for a 2.50 percent dividend yield. And BK has a long history of increasing its dividend, making the stock a candidate for a long-term dividend-oriented portfolio.

Currently, the stock is down 21.82 percent from its closing high of $49.27 set on December 24, 2007. But it is not down as much as many financial stocks. And BK is approaching support at $37.

BK is a stock to watch.

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Posted July 2, 2008.