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PNC Financial Services Strengthens Shareholder Returns with New Dividends

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Michael Chen

April 3, 2024 - 15:29 pm

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PNC Financial Services Announces Quarterly Dividends for Shareholders

In a fresh declaration that strengthens its commitment to delivering shareholder value, The PNC Financial Services Group, Inc., a leading diversified financial services corporation, proclaimed on April 3, 2024, the issuance of quarterly cash dividends for its common and preferred stocks. The announcement came in a statement released through PRNewswire, detailing the amounts and payment dates of these dividends to its shareholders.

Expanding Shareholder Value

PNC has decided to reward its common stockholders with a quarterly cash dividend of $1.55 per share. This reflects the organization's consistent financial performance and dedication to its shareholder community. This forthcoming dividend is scheduled for payment on May 5, 2024, and applies to shareholders listed in the company's books by the close of business as of April 15, 2024.

Preferred Stock Dividends

In addition to common stock dividends, PNC Board has laid out dividends for various series of preferred stocks. Shareholders of Series B preferred stock can anticipate a quarterly dividend of 45 cents per share, payable on June 10, 2024. For the Series R preferred stock, shareholders are to receive a hefty quarterly dividend of $2,208.73 per share, equivalent to $22.0873 for each depositary share. This also comes with a set payment date of June 1, 2024. PNC has not limited its declaration to these select series but has also incorporated dividends for Series S, Series T, Series U, Series V, and Series W preferred stocks, with varying amounts and scheduled payment dates through May and June 2024.

Implementation for Dividends Payment

The declared dividends for the preferred stocks are scheduled to be paid as per the stipulated payment dates to shareholders of record by the close of business on their respective record dates. These declarations symbolize PNC's Financial Services Group's robust financial status and its commitment to upholding the trust that its investors confer.

PNC Financial Services Group at a Glance

Pittsburgh-based PNC Financial Services Group is acclaimed as one of the largest financial services entities within the United States. It has cemented its status by offering a broad array of retail and business banking services. Their portfolio extends to lending products, specialized services tailored for corporations and government bodies, which includes corporate banking, real estate finance, asset-based lending, along with wealth management and asset management solutions. PNC has strategically organized its operations around customer-centric policies to foster strong relationships and ensure the local availability of its comprehensive financial services.

For more in-depth information about PNC and its diverse offerings, individuals are invited to navigate their way through the financial institution's comprehensive website at www.pnc.com.

Connecting with PNC

To accommodate any inquiries from the media, PNC Financial Services Group has designated Timothy Miller as the primary contact. Mr. Miller can be reached at (412) 762-4550, or via email at [email protected] For investor relations inquiries, Bryan Gill is the designated point of contact, reachable at (412) 768-4143, or at [email protected]

The PNC Financial Services Group, Inc. has positioned itself as a beacon of dependability for its customers and shareholders alike. By declaring these dividends, PNC reaffirms its stance on creating value and expressing gratitude toward those who have invested in the company's future.

About PNC Financial Services Group, Inc.

PNC stands tall as a testament to the power of strategic financial management and customer-oriented services. It has epitomized excellence across its vast spectrum of financial offerings to retail and business clients. By establishing connections at the grassroot level with communities, PNC ensures that its banking solutions and specialized services resonate with the needs of its customers and align with their aspirations.

The forward-facing financial institution continues to pioneer with its innovative solutions in corporate banking, asset management, and wealth management, while simultaneously upholding its promise of robust returns to its shareholders.

In conclusion, the comprehensive dividends announced by PNC encapsulate the financial group's firm commitment to rewarding its shareholders and fortifying its status as a leading financial institution. The transparency and detailed coverage of payment schedules and amounts highlight PNC's dedication to keeping its investor relations clear, direct, and beneficial for all parties involved.

This recent announcement underscores PNC Financial Services Group's ongoing pledge to deliver on its promises to those who have steadfastly supported it, ensuring that their faith is met with tangible financial benefits, reinforcing the credence that investment in PNC is both prudent and rewarding.

The declaration emanating from PNC's Board of Directors has been designed with precision, conveying the financial institution's robust strategy of sustained growth and shareholder value. This vision of driving forward while upholding a core of corporate integrity reflects in the meticulous planning witnessed through these dividends declarations.

Moreover, PNC's gesture of shareholder appreciation is not merely seen in the cash dividends but also embodied in the enhanced accessibility of financial and corporate information. Through PNC's outreach for media and investor relations, the company demonstrates its practice of clear communication and availability, maintaining its standing as a household name in financial circles.

As a final note, PNC Financial Services Group invites its shareholders and prospective investors to reach out and stay updated on the company's endeavors. The carefully curated dividends are but a reflection of PNC's unwavering resolution to continue shaping the financial services sector with acumen, foresight, and an undying commitment to mutual growth and prosperity.

"SOURCE The PNC Financial Services Group, Inc." caps off the announcement, reminding the financial community of the solidity and repute behind the dividends and the comprehensive financial services that PNC offers. With an eye to the future and a nod to its substantial and diversified portfolio, PNC endeavors to advance with its hallmark of excellence and reliability.

For a deeper understanding and regular updates on PNC Financial Services Group’s dividends, financial services, and upcoming declarations, audiences can bookmark the aforementioned website and ensure that they are always informed about the latest strides PNC makes towards financial innovation and shareholder satisfaction.

To summarize, PNC Financial Services Group, Inc. continues to beckon its shareholders with financial prosperity through these latest dividend declarations. A testament to their strong financial health and strategic positioning, these dividends also serve as a bridge, strengthening the bond between the financial giant and its vast shareholder base, and reinforcing their philosophy of fostering enduring customer-centric growth and relationships.

With these judiciously planned and well-timed dividend declarations, PNC Financial Services Group, Inc. not only fortifies its place in the competitive banking landscape but also soothes the investor's pursuit of financial stability and confidence in their investment choices during uncertain economic climates.

Offering such a detailed and transparent account of dividends allocates PNC Financial Services Group at the forefront of the banking and finance industry. It becomes an exemplary corporation that prioritizes shareholder interests, with a visionary approach aimed at ensuring the delivery of returns and solidifying stakeholder trust now and into the future.

Providing a URL for additional information instantiates PNC’s commitment to transparency and modern communication channels. It reinforces that the Group is rooted in providing convenience, clarity, and up-to-the-minute financial insights for its shareholders, embodying PNC's core values of trust, customer focus, and progressive financial solutions.

Thus, as we observe PNC Financial Services Group, Inc's deliberate and strategic dividend declarations, it becomes evident that this financial institution remains steadfast in its mission to add value for its shareholders and strengthen the cornerstone of its business – the unwavering trust and satisfaction of its customers and investors.

Investors and stakeholders are encouraged to keep abreast of PNC’s financial progressions and to partake in the prosperity that the corporation's dividends signify. While the declaration period may be periodic, the implications of these dividends are enduring, reflecting the continuous cycle of value generation PNC embodies.

In conclusion, The PNC Financial Services Group's announcement of upcoming dividends is a measure of its enduring success and a testament to its strategic business practices. The company stands as a paragon of financial strength, consistently rewarding its shareholders and fortifying trust with every step it takes towards future accomplishments.