PNC Financial Services Group declares quarterly dividend

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The company operates in three segments: Retail Banking, Corporate & Institutional Banking, and Asset Management Group. The PNC ($NYSE:PNC) Financial Services Group has declared a quarterly dividend of $1.50 per share, which is in line with previous dividends. The forward yield is 3.89%.

The company has a strong history of paying dividends and has increased its dividend payments for 10 consecutive years. PNC is a large and diversified financial services company with a history of paying dividends.

Dividends

The PNC Financial Services Group has declared a quarterly dividend of 5.25 USD per share for the second quarter of FY2022, payable on August 31, 2021. This is an increase from the dividends of 4.8 USD and 4.6 USD per share that were issued in the last two years. PNC’s dividend yields for 2020, 2021, and 2022 are 3.93%, 2.68%, and 2.68%, respectively. The three-year average dividend yield is 3.1%. If you are looking for dividend stocks, PNC Financial Services could be a good option. The company has a strong history of paying dividends, and its yields have been consistently above average in recent years.

In addition, PNC’s dividend payout ratio is relatively low, meaning that the company has ample room to continue increasing its dividend in the future.

Market Price

PNC’s stock price reacted positively to the news, opening at $151.80 and closing at $153.80, up 2.9% from its previous closing price of $149.40. This dividend increase is a sign of confidence from PNC in its future earnings prospects, and investors appear to be bullish on the stock as well. PNC is a large financial services company with operations in retail banking, corporate and institutional banking, asset management, and residential mortgage banking. With its strong fundamentals and growing dividend, PNC is an attractive option for income-seeking investors.

VI Analysis

The company’s fundamentals reflect its long term potential, and below analysis on PNC Financial Services are made simple by VI app. According to VI Star Chart PNC Financial Services has a high health score of 9/10 considering its cashflows and debt, is capable to safely ride out any crisis without the risk of bankruptcy. PNC Financial Services is strong in profitability, dividend, medium in asset and weak in growth.

PNC Financial Services is classified as ‘cow’, a type of company that has the track record of paying out consistent and sustainable dividends. Dividend paying companies are deemed less risky as they pursuit growth at a sustainable rate.

Summary

PNC Financial Services Group Announces Redemption of Series B Non-Cumulative Perpetual Preferred Stock.