PNC Financial's capital plan accepted by regulators, plans to raise dividend PNC Financial announced that the Board of Governors of the Federal Reserve System accepted its capital plan and did not object to its proposed capital actions, which included a recommendation to increase the quarterly common stock dividend in Q2. A share repurchase program for 2013 was not included in the capital plan primarily as a result of PNC's 2012 acquisition of RBC Bank and expansion into Southeastern markets.
News For PNC From The Last 14 Days
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PNC Financial provides results of Dodd-Frank stress test PNC Financial reports that during a severely adverse scenario its Tier 1 risk-based capital ratio would be 6%; Common equity Tier 1 capital would be 4.5%. Reference Link
PNC Financial says Q3 shaping up 'in line' with guidance Says remains focused on acquiring appropriate risk-adjusted assets. Capital priorities include building capital to support client growth and business investment, maintaining appropriate capital in light of economic uncertainty, returning excess capital to shareholders via dividend and buybacks. Chairman, President and CEO William Demchak says 35% of PNC's deposits are by ATM and mobile. Sees continued focus on expense savings initiatives through CIP goal of $500M. Says still evaluating new LCR rules. Says has flexibility to execute more repurchases throughout the year. Comments made at the Barclays Global Financial Services Conference.