PNC Sets Common and Preferred Dividends

Banking giant PNC Financial Services (NYSE: PNC  ) announced today its third-quarter dividend of $0.44 per share, the same rate it's paid for the past two quarters after raising the payout 10% from $0.40 per share. The board of directors said the quarterly dividend is payable on November 5 to holders of record at the close of business on October 15.

The board also said it was paying dividends on five series of preferred stock:

  • Series B: $0.45 per share, payable on December 10  to shareholders of record at the close of business November 15.
  • Series K: $114.57 per share, or $11.457 per each depositary share, 10 of which represent one share of Series K preferred stock, will be payable on November 21 to shareholders of record at the close of business October 31.
  • Series P: $1,531.25 per share, or $0.3828125 per each depositary share, 4,000 of which represent one share of Series P preferred stock will be payable on November 1 to shareholders of record at the close of business October 15.
  • Series Q: $1,343.75 per share, or $0.3359375 per each depositary share, 4,000 of which represent one share of Series Q preferred stock, with a payment date of December 1 will be payable the next business day to shareholders of record at the close of business on November 15.
  • Series R: $2,748.33 per share, or $27.4833 per each depositary share, 100 of which represent one share of Series R preferred stock, will be payable on December 1 to shareholders of record at the close of business on November 15.

The regular dividend payment equates to a $1.76-per-share annual dividend, yielding 2.4% based on the closing price today of PNC Financial's stock.

PNC Dividend Chart

PNC Dividend data by YCharts.


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