PITTSBURGH, March 13, 2012 /PRNewswire/ -- The PNC
Financial Services Group, Inc. (NYSE: PNC) announced today that the
Board of Governors of the Federal Reserve System accepted its
capital plan and did not object to the capital actions, which
included recommendations to increase the quarterly common stock
dividend in the second quarter of 2012 and a modest share
repurchase program under PNC's existing common stock repurchase
authorization. PNC's capital plan reflects continued investments in
its businesses, which is expected to deliver long-term value to its
shareholders. PNC submitted the plan, approved by its board of
directors, to the Federal Reserve and its primary bank regulators
in January 2012 as part of the
Comprehensive Capital Analysis and Review program. The board of
directors is expected to consider an increase in the company's
quarterly common stock dividend at its next scheduled meeting on
April 5, 2012.
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.
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.