Banking & Finance

PNC Declares Cash Dividend of 75 Cents

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 May 5 to shareholders of record April 16.

PNC reported a fourth-quarter net income of $2.091 billion, or $4.18 per diluted common share, and full-year 2017 net income of $5.388 billion, or $10.36 per diluted 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 June 10 to shareholders of record May 18.
  • 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 May 1 to shareholders of record April 16.
  • 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 June 1 to shareholders of record May 17.
  • 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 June 1 to shareholders of record May 17.
  • 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 May 1 to shareholders of record April 16.

Published by The Business Journal, Youngstown, Ohio.