PNC Raises Common Stock Dividend By 10 Percent To 44 Cents Per Share
PITTSBURGH, April 4, 2013 /PRNewswire/ -- The board of directors of The PNC Financial Services Group, Inc. (NYSE: PNC) declared a quarterly cash dividend on the common stock of 44 cents per share, an increase of .04 cents per share, or 10 percent, from the prior quarterly dividend of 40 cents per share. The new dividend payment date is May 5, 2013, payable the next business day, to shareholders of record at the close of business April 16, 2013.
"Today's board actions significantly increase our shareholder return," said James E. Rohr, PNC chairman and chief executive officer. "Our strong capital levels and our financial performance demonstrate PNC's ability to support our clients, invest in our businesses and deliver long-term shareholder value."
The board also declared a quarterly cash dividend on the following series of preferred stocks:
- Series B: a dividend of 45 cents per share will be payable on June 10, 2013 to shareholders of record as of the close of business May 17, 2013.
- Series K: a dividend of $412.50 per share, ($41.25 per each depositary share representing one-tenth of a share of the Series K preferred stock), will be payable on May 21, 2013 to shareholders of record at the close of business April 30, 2013.
- Series P: a dividend of $1,531.25 per share ($.3828125 per each depositary share, 4,000 of which represent one share of Series P preferred stock), will be payable on May 1, 2013 to shareholders of record as of the close of business April 16, 2013.
- Series Q: a dividend of $1,343.75 per share ($.3359375 per each depository share, 4,000 of which represent one share of Series Q preferred stock), with a payment date of June 1, 2013, will be payable the next business day to shareholders of record as of the close of business May 17, 2013.
The PNC Financial Services Group, Inc. (www.pnc.com) is one of the nation's largest diversified financial services organizations providing retail and business banking; residential mortgage banking; specialized services for corporations and government entities, including corporate banking, real estate finance and asset-based lending; wealth management and asset management.
William H. Callihan
SOURCE PNC Financial Services Group