Banking & Finance

PNC Declares Cash Dividend of 75 Cents

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PITTSBURGH – PNC Financial Services Group announced today that its board of directors declared a quarterly cash dividend of 75 cents per common share.

The dividend is payable Nov. 5 to shareholders of record Oct. 17.

In the second quarter, PNC reported net income of $1.1 billion, or $2.10 per common share.

The board also declared a cash dividend on the following series of preferred stocks:

  • Series B: a quarterly dividend of 45 cents per share payable Dec. 10 to shareholders of record Nov. 17.
  • Series P: a quarterly dividend of $1,531.25 per share ($.3828125 per each depositary share, 4,000 of which represent one share of Series P preferred stock) payable Nov. 1 to shareholders of record Oct. 17.
  • Series Q: a quarterly dividend of $1,343.75 per share ($.3359375 per each depositary share, 4,000 of which represent one share of Series Q preferred stock) payable Dec. 1 to shareholders of record Nov. 15.
  • Series R: a semi-annual dividend of $2,425 per share ($24.25 per each depositary share, 100 of which represent one share of Series R preferred stock) payable Dec. 1 to shareholders of record Nov. 15.
  • Series S: a semi-annual dividend of $2,500 per share ($25 per each depositary share, 100 of which represent one share of Series S preferred stock) payable Nov. 1 to shareholders of record Oct. 17.

Published by The Business Journal, Youngstown, Ohio.