PITTSBURGH, Oct. 3, 2022
/PRNewswire/ -- The board of directors of The PNC Financial
Services Group, Inc. (NYSE: PNC) declared a quarterly cash dividend
on the common stock of $1.50 per
share. The dividend, with a payment date of Nov. 5, 2022, will be payable the next business
day to shareholders of record at the close of business Oct. 17, 2022.
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
Dec. 10, 2022, will be payable the
next business day to shareholders of record at the close of
business Nov. 18, 2022.
- Series O: a quarterly dividend of $1,650.96 per share ($16.5096 per each depositary share, 100 of which
represent one share of Series O preferred stock) at a quarterly
rate of 1.65096% will be payable Nov. 1,
2022, to shareholders of record at the close of business
Oct. 17, 2022.
- 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) will be payable
Dec. 1, 2022, to shareholders of
record at the close of business Nov. 16,
2022.
- Series S: a semi-annual dividend of $2,500.00 per share ($25.00 per each depositary share, 100 of which
represent one share of Series S preferred stock), will be payable
Nov. 1, 2022, to shareholders of
record at the close of business Oct. 17,
2022.
- Series T: a quarterly dividend of $850.00 per share ($8.50 per each depositary share, 100 of which
represent one share of Series T preferred stock) will be payable
Dec. 15, 2022, to shareholders of
record at the close of business Nov. 30,
2022.
- Series U: a quarterly dividend of $1,500.00 per share ($15.00 per each depositary share, 100 of which
represent one share of Series U preferred stock) will be payable
Nov. 15, 2022, to shareholders of
record at the close of business Oct. 31,
2022.
- Series V: a quarterly dividend of $1,997.78 per share ($19.9778 per each depositary share, 100 of which
represent one share of Series V preferred stock) will be payable
Dec. 15, 2022, to shareholders of
record at the close of business Nov. 30,
2022.
On Sept. 30, 2022, PNC announced
the redemption of $1,500,000,000 of
Depositary Shares (CUSIP: 693475857) (the "Depositary Shares")
representing interests in PNC's Fixed-to-Floating Rate
Non-Cumulative Perpetual Preferred Stock, Series P (the "Series P
Preferred Stock") on Nov. 1, 2022.
Each Depositary Share represents a 1/4,000th interest in a share of
the Series P Preferred Stock. All 60,000,000 Depositary Shares
currently outstanding will be redeemed.
The Depositary Shares will be redeemed at a redemption price of
$25.00 per Depositary Share plus
declared and unpaid dividends of $0.43763 per Depositary Share, representing the
dividend for the period from Aug. 1,
2022 to, but excluding, Nov. 1,
2022.
The Depositary Shares are held through the Depository Trust
Company ("DTC") and will be redeemed in accordance with the
procedures of DTC. Payment to DTC will be made by Computershare
Trust Company, N.A., the Depositary, in accordance with the Deposit
Agreement governing the Depositary Shares. The address for
Computershare Trust Company, N.A. is 462 South 4th Street, Suite
1600, Louisville, KY 40202.
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 including a full range of
lending products; 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:
Timothy Miller
(412) 762-4550
media.relations@pnc.com
INVESTORS:
Bryan Gill
(412) 768-4143
investor.relations@pnc.com
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SOURCE The PNC Financial Services Group, Inc.