PNC Increases Common Stock Dividend by 5 Cents

PITTSBURGH, Pa. – PNC Financial Services Group’s board of directors declared a quarterly cash dividend on the common stock of $1.55 per share, which is an increase of 5 cents per share, or 3%, from the second quarter dividend of $1.50 per share.

The Aug. 5 dividend will be payable on the next business day to shareholders of record at the close of business July 17.

“The increase in our dividend reflects the continued strength of our capital and liquidity levels and our board’s confidence in our strategy and outlook,” said William Demchak, PNC chairman, president and CEO.

Additionally, the board declared a cash dividend on the following series of preferred stocks:

• Series B: 45 cents per share, with a payment date of Sept. 10, will be payable the next business day to shareholders of record at the close of business Aug. 18.

• Series O: $2,294.16 per share ($22.94 per each depositary share, 100 of which represent one share of Series O preferred stock) at a quarterly rate of 2.29416% will be payable Aug. 1 to shareholders of record at the close of business July 17.

• Series R: $2,181.42 per share ($21.81 per each depositary share, 100 of which represent one share of Series R preferred stock) at a quarterly rate of 2.18142% will be payable Sept. 1 to shareholders of record at the close of business Aug. 17.

• Series T: $850 per share ($8.50 per each depositary share, 100 of which represent one share of Series T preferred stock) will be payable Sept. 15 to shareholders of record at the close of business Aug. 31.

• Series U: $1,500 per share ($15 per each depositary share, 100 of which represent one share of Series U preferred stock) will be payable Aug. 15 to shareholders of record at the close of business July 31.

• Series V: $1,550 per share ($15.50 per each depositary share, 100 of which represent one share of Series V preferred stock) will be payable Sept. 15 to shareholders of record at the close of business Aug. 31.

• Series W:  $1,562.50 per share ($15.62 per each depositary share, 100 of which represent one share of Series W preferred stock) will be payable Sept. 15 to shareholders of record at the close of business Aug. 31.

Published by The Business Journal, Youngstown, Ohio.