PNC Financial 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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