PITTSBURGH, Pa. – The PNC Financial Services Group Inc. Board of Directors on Monday declared a quarterly cash dividend of $2 per share on common stock, an increase of $30 cents per share from the second-quarter dividend.
The dividend will be payable Aug. 5 to shareholders of record at the close of business July 20.
“The increase in our dividend reflects our continued financial strength, our board’s confidence in our strategy and outlook and the successful integration of FirstBank,” said William S. Demchak, PNC chairman and chief executive officer.
The board also declared a cash dividend on the following series of preferred stocks, which will be payable to shareholders of record as of the close of business on the respective record dates. The preferred stocks, except for Preferred Series B and X, are each represented by 100 depositary shares:
- Series B: A quarterly dividend of 45 cents per share will be payable Sept. 10 to shareholders of record at the close of business Aug. 14.
- Series T: A quarterly dividend of $850 per share ($8.50 per each depositary share) will be payable Sept. 15 to shareholders of record at the close of business Aug. 28.
- Series U: A quarterly dividend of $1,500 per share ($15 per each depositary share) with a payment date of Aug. 15, will be payable the next business day to shareholders of record at the close of business July 31.
- Series V: A quarterly dividend of $1,550 per share ($15.50 per each depositary share) will be payable Sept. 15 to shareholders of record at the close of business Aug. 28.
- Series W: A quarterly dividend of $1,562.50 per share ($15.62 per each depositary share) will be payable Sept. 15 to shareholders of record at the close of business Aug. 28.
- Series X: A quarterly dividend of $18.13 per share will be payable July 29 to shareholders of record at the close of business July 15.