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PNC Financial Increases Common Stock Dividend

By Eric Volkman - Apr 4, 2013 at 7:28PM

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The banking group lifts its payout by 10%.

PNC Financial (PNC 2.68%) is devoting more capital to shareholder enrichment. The company will pay a dividend of $0.44 per share of its common stock on May 5 to shareholders of record as of April 16. This new payout represents an increase of 10% over the previous disbursement of $0.40, which was handed out in each of the past four quarters. Prior to that, the banking group paid $0.35 per share.

PNC Financial is a steady dividend payer, and with the just-announced raise, the company has lifted its disbursement three years in a row.

The new dividend annualizes to $1.76 per share. That yields 2.7% at the firm's current stock price of $65.60.

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The PNC Financial Services Group, Inc. Stock Quote
The PNC Financial Services Group, Inc.
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