PNC Sets Regular and Preferred Dividends

Rich Duprey, The Motley Fool
Updated

Banking giant PNC Financial announced today its third-quarter dividend of $0.44 per share, the same rate it paid last quarter after raising the payout 10% from $0.40 per share. The board of directors said the quarterly dividend is payable on Aug. 5 to the holders of record at the close of business on July 15.

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

  • Series B: $0.45 per share, payable on Sept. 10 to shareholders of record at the close of business Aug. 16.

  • Series K: $114.84 per share, or $11.484 per each depositary share, 10 of which represent one share of Series K preferred stock, will be payable on Aug. 21 to shareholders of record at the close of business July 31.

  • Series O: $3,375.00 per share, or $33.75 per each depositary share, 100 of which represent one share of Series O preferred stock, will be payable on Aug. 1 to shareholders of record at the close of business July 15.

  • 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 Aug. 1 to shareholders of record at the close of business July 15.

  • Series Q: $1,343.75 per share, or $0.3359375 per each depository share, 4,000 of which represent one share of Series Q preferred stock, with a payment date of Sept. 1 will be payable the next business day to shareholders of record at the close of business Aug. 16.

The regular dividend payment equates to a $1.76-per-share annual dividend, yielding 2.4% based on the closing price of PNC Financial's stock on July 2.


PNC Dividend Chart
PNC Dividend Chart

PNC Dividend data by YCharts.

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The article PNC Sets Regular and Preferred Dividends originally appeared on Fool.com.

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