PNC Financial Raises Quarterly Dividend by 21% to $1.15
July 09 2019 - 12:06PM
Dow Jones News
By Colin Kellaher
PNC Financial Services Group Inc. (PNC) Tuesday said its board
raised the quarterly dividend by 21% to $1.15 from 95 cents.
The new payout, equal to $4.60 a year, represents an annual
yield of about 3.27% based on Monday's closing price of $140.74, up
from about 2.7%.
The Pittsburgh financial-service company last month said it was
planning the increase after the Federal Reserve accepted its
capital plan and didn't object to its proposed capital actions.
PNC said the increased dividend is payable Aug. 5 to
shareholders of record July 19.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
July 09, 2019 11:51 ET (15:51 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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