PNC Financial Services hikes dividend by 21.1%
PNC Financial Services Group (PNC) will raise its quarterly dividend by 21.1 percent to $1.15 per share in 2019. This marks the 9th consecutive year of higher dividends by the financial services company.
The next dividend will be payable August 5, 2019 to shareholders of record at the close of business July 19, 2019. A new annual dividend rate of $4.60 per share yields 3.3% at a stock price of $138.76.
"The significant increase to our dividend is a result of PNC's consistent performance, strong capital levels and our board's confidence in our business model as a Main Street bank," said William S. Demchak, PNC chairman, president and chief executive officer.
The PNC Financial Services Group, Inc. is a diversified financial services company. The company has businesses engaged in retail banking, including residential mortgage, corporate and institutional banking and asset management, providing many of our products and services nationally. PNC's retail branch network is located in markets across the Mid-Atlantic, Midwest and Southeast. The company also has strategic international offices in four countries outside the U.S. The PNC Financial Services Group was incorporated under the laws of the Commonwealth of Pennsylvania in 1983 with the consolidation of Pittsburgh National Corporation and Provident National Corporation.
The next dividend will be payable August 5, 2019 to shareholders of record at the close of business July 19, 2019. A new annual dividend rate of $4.60 per share yields 3.3% at a stock price of $138.76.
"The significant increase to our dividend is a result of PNC's consistent performance, strong capital levels and our board's confidence in our business model as a Main Street bank," said William S. Demchak, PNC chairman, president and chief executive officer.
The PNC Financial Services Group, Inc. is a diversified financial services company. The company has businesses engaged in retail banking, including residential mortgage, corporate and institutional banking and asset management, providing many of our products and services nationally. PNC's retail branch network is located in markets across the Mid-Atlantic, Midwest and Southeast. The company also has strategic international offices in four countries outside the U.S. The PNC Financial Services Group was incorporated under the laws of the Commonwealth of Pennsylvania in 1983 with the consolidation of Pittsburgh National Corporation and Provident National Corporation.