PNC - PNC Raises Common Stock Dividend To $1.60 Per Share

PR Newswire

PITTSBURGH , July 2, 2024 /PRNewswire/ -- The board of directors of The PNC Financial Services Group, Inc. (NYSE: PNC) declared a quarterly cash dividend on the common stock of $1.60 per share, an increase of $0.05 cents per share, or 3%, from the second quarter dividend of $1.55 per share. The dividend will be payable Aug. 5, 2024 , to shareholders of record at the close of business July 15, 2024 .

"The increase in our dividend reflects our continued financial strength and our board's confidence in our strategy and outlook," said William S. Demchak , PNC chairman and chief executive officer.

The board also declared a cash dividend on the following series of preferred stocks:

• Series B: a quarterly dividend of 45 cents per share will be payable Sept. 10, 2024 , to shareholders of record at the close of business Aug. 16, 2024 .
• Series R: a quarterly dividend of $2,209.97 per share ( $22.0997 per each depositary share, 100 of which represent one share of Series R preferred stock) at a quarterly rate of 2.20997%, with a payment date of Sept. 1, 2024 , will be payable the next business day to shareholders of record at the close of business Aug. 16, 2024 .
• 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) with a payment date of Sept. 15, 2024 , will be payable the next business day to shareholders of record at the close of business Aug. 30, 2024 .
• 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 Aug. 15, 2024 , to shareholders of record at the close of business July 31, 2024 .
• Series V: 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) with a payment date of Sept. 15, 2024 , will be payable the next business day to shareholders of record at the close of business Aug. 30, 2024 .
• Series W: 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) with a payment date of Sept. 15, 2024 , will be payable the next business day to shareholders of record at the close of business Aug. 30, 2024 .

The PNC Financial Services Group, Inc. (NYSE: PNC). PNC 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

SOURCE The PNC Financial Services Group, Inc.