PITTSBURGH, April 3, 2014 /PRNewswire/ -- The board of directors of The PNC Financial Services Group, Inc. (NYSE: PNC) declared a quarterly cash dividend on the common stock of 48 cents per share, an increase of 4 cents per share, or 9 percent, from the first quarter dividend of 44 cents per share. The dividend is payable on May 5, 2014 to shareholders of record at the close of business April 15, 2014.
"Today's board action reflects our strong capital levels and commitment to enhancing shareholder value," said William S. Demchak, PNC's president and chief executive officer. "We believe our progress on key business priorities positions the company to deliver greater returns over time."
The board also declared a cash dividend on the following series of preferred stocks:
- Series B: a quarterly dividend of 45 cents per share will be payable on June 10, 2014 to shareholders of record as of the close of business May 15, 2014.
- Series K: a quarterly dividend of $110.10 per share ($11.01 per each depositary share, 10 of which represent one share of Series K preferred stock) will be payable on May 21, 2014 to shareholders of record at the close of business April 30, 2014.
- 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) will be payable on May 1, 2014 to shareholders of record as of the close of business April 15, 2014.
- Series Q: a quarterly 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, 2014, will be payable the next business day to shareholders of record as of the close of business May 15, 2014.
- Series R: a semi-annual dividend of $2,425.00 per share ($24.25 per each depositary share, 100 of which represent one share of Series R preferred stock), with a payment date of June 1, 2014, will be payable the next business day to shareholders of record at the close of business May 15, 2014.
The PNC Financial Services Group, Inc. (www.pnc.com) is one of the United States' 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.
CONTACTS:
MEDIA:
Fred Solomon
(412) 762-4550
corporate.communications@pnc.com
INVESTORS:
William H. Callihan
(412) 762-8257
investor.relations@pnc.com
SOURCE The PNC Financial Services Group, Inc.
