The PNC Financial Services Group, Inc. declared an increase in its quarterly cash dividend on common stock
Dividends
July 4, 2023
The PNC Financial Services Group, Inc. recently declared an increase in its quarterly cash dividend on common stock, demonstrating the company's strong capital and liquidity levels, as well as its positive outlook. In addition to the dividend increase, PNC also announced cash dividends on various series of preferred stocks. This move reflects the company's commitment to providing value to its shareholders.
The board of directors of PNC has approved an increase in the quarterly cash dividend on the common stock by $0.05 cents per share, representing a 3% increase. The new dividend amount is set at $1.55 per share, up from the previous quarter's dividend of $1.50 per share. Shareholders of record as of July 17, 2023, will receive the dividend on August 5, 2023, the next business day after the payment date.
Apart from the increase in common stock dividends, PNC's board of directors also declared cash dividends on several series of preferred stocks. The details are as follows:
Shareholders of Series B preferred stock will receive a quarterly dividend of 45 cents per share. The payment date is set for September 10, 2023, and shareholders of record as of August 18, 2023, will be eligible for the dividend.
Shareholders of Series O preferred stock will receive a quarterly dividend of $2,294.16 per share ($22.9416 per each depositary share, 100 of which represent one share of Series O preferred stock). The dividend, calculated at a quarterly rate of 2.29416%, will be payable on August 1, 2023. Shareholders of record as of July 17, 2023, will qualify for this dividend.
Shareholders of Series R preferred stock will receive a quarterly dividend of $2,181.42 per share ($21.8142 per each depositary share, 100 of which represent one share of Series R preferred stock). The dividend, calculated at a quarterly rate of 2.18142%, will be payable on September 1, 2023. Shareholders of record as of August 17, 2023, will be eligible for this dividend.
Shareholders of Series T preferred stock will receive 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). The dividend will be payable on September 15, 2023. Shareholders of record as of August 31, 2023, will qualify for this dividend.
Shareholders of Series U preferred stock will receive 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). The dividend will be payable on August 15, 2023. Shareholders of record as of July 31, 2023, will be eligible for this dividend.
Shareholders of Series V preferred stock will receive a quarterly dividend of $1,550.00 per share ($15.50 per each depositary share, 100 of which represent one share of Series V preferred stock). The dividend will be payable on September 15, 2023. Shareholders of record as of August 31, 2023, will qualify for this dividend.
Shareholders of Series W preferred stock will receive a quarterly dividend of $1,562.50 per share ($15.6250 per each depositary share, 100 of which represent one share of Series W preferred stock). The dividend will be payable on September 15, 2023. Shareholders of record as of August 31, 2023, will be eligible for this dividend.
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