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PNC Raises Common Stock Dividend by 14 Percent to 40 Cents Per Share
Plans to repurchase up to $250 million of common stock
"We are pleased to announce today's board actions to increase the return to our shareholders," said
The board also declared a quarterly cash dividend on the following series of preferred stocks:
- Series B: a dividend of
45 cents per share, with a dividend payment date ofJune 10, 2012 , payable the next business day, to shareholders of record at the close of businessMay 17, 2012 . - Series K: a dividend of
$412.50 per share, ($41.25 per each depositary share representing one-tenth of a share of the Series K preferred stock), will be payable onMay 21, 2012 to shareholders of record at the close of businessApril 30, 2012 . - Series L: a dividend of
$2,468.75 per share ($.6171875 per each depositary share, 4,000 of which represent one share of Series L preferred stock), payable onMay 1, 2012 to shareholders of record as of the close of businessApril 17, 2012 .
The
The statements in this release related to our plans for share repurchases are forward-looking and are subject to factors such as market and general economic conditions, economic and regulatory capital considerations, alternative uses of capital, regulatory and contractual limitations, and the potential impact on our credit ratings.
CONTACTS: |
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MEDIA: |
INVESTORS: |
Fred Solomon |
William H. Callihan |
(412) 762-4550 |
(412) 762-8257 |
SOURCE