PNC Financial Services Group (PNC) will raise its quarterly dividend by 8.7 percent to $1.25 per share in 2021. This follows a dividend hike of 21.1 percent to $1.15 per share announced two years ago in 2019. This marks the 11th consecutive year of higher dividends by the financial services company based on calendar years.

The next dividend will be payable August 5, 2021 to shareholders of record at the close of business July 16, 2021. A new annual dividend rate of $5.00 per share yields 2.6% at a stock price of $191.

PNC Financial Services Group hiked its quarterly dividend by double digits three times in the last five years. Last year no dividend hike was announced during the covid-19 pandemic. Based on calculations by dividendhike.com the financial services company now pays an estimated $2.1 billion in dividends to shareholders annually.

The PNC Financial Services Group, Inc. is a diversified financial services company.  The company has businesses engaged in retail banking, including residential mortgage, corporate and institutional banking and asset management, providing many of our products and services nationally. PNC's retail branch network is located in markets across the Mid-Atlantic, Midwest and Southeast. The company also has strategic international offices in four countries outside the U.S. The PNC Financial Services Group was incorporated under the laws of the Commonwealth of Pennsylvania in 1983 with the consolidation of Pittsburgh National Corporation and Provident National Corporation.