PITTSBURGH, July 7, 2016 /PRNewswire/ -- The board of directors of The PNC Financial Services Group, Inc. (NYSE: PNC) declared a quarterly cash dividend on the common stock of 55 cents per share, an increase of 4 cents per share, or 8 percent, from the second quarter dividend of 51 cents per share. The dividend is payable Aug. 5, 2016 to shareholders of record at the close of business July 18, 2016.
"Today's board action provides an expanded and well-deserved return to our shareholders," said William S. Demchak, PNC chairman, president and chief executive officer. "Our strong capital levels, extensive products and services, and Main Street delivery position PNC to continue supporting our clients, investing in our businesses and delivering greater shareholder value over the long term."
The board also declared a cash dividend on the following series of preferred stocks:
- Series B: a quarterly dividend of 45 cents per share with a payment date of Sept. 10, 2016, will be payable the next business day to shareholders of record at the close of business Aug. 19, 2016.
- Series O: a semi-annual dividend of $3,375.00 per share ($33.75 per each depositary share, 100 of which represent one share of Series O preferred stock) will be payable Aug. 1, 2016 to shareholders of record at the close of business July 18, 2016.
- 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 Aug. 1, 2016 to shareholders of record at the close of business July 18, 2016.
- 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) will be payable Sept. 1, 2016 to shareholders of record at the close of business Aug. 17, 2016.
The PNC Financial Services Group, Inc. is one of the largest diversified financial services institutions in the United States, organized around its customers and communities for strong relationships and local delivery of 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. For information about PNC, visit www.pnc.com.
CONTACTS:
MEDIA:
Fred Solomon
(412) 762-4550
corporate.communications@pnc.com
INVESTORS:
Bryan K. Gill
(412) 768-4143
investor.relations@pnc.com
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SOURCE PNC Financial Services Group, Inc.
