"PITTSBURGH, June 28, 2021 /PRNewswire/ -- The PNC Financial Services Group, Inc. (NYSE: PNC) last week received the results of the Federal Reserve's 2021 Comprehensive Capital Analysis and Review (CCAR). The results included the Federal Reserve's estimate of PNC's minimum capital ratios for the period from the first quarter of 2021, through the first quarter of 2023, under the Supervisory Severely Adverse Scenario. Based on its strong results, PNC's Stress Capital Buffer (SCB) for the four-quarter period beginning Oct. 1, 2021, applicable to PNC inclusive of the BBVA USA acquisition, is 2.5%, which is the regulatory floor and the minimum SCB amount. PNC's Common Equity Tier 1 (CET1) ratio significantly exceeds the regulatory minimum (4.5%) plus our SCB, reflecting our strong capital levels.
PNC plans to recommend to its board of directors an increase in the quarterly cash dividend on common stock of 10 cents per share, or 9%, to $1.25 per share in the third quarter of 2021, consistent with the capital plan approved by its board. PNC's board of directors is expected to consider this recommendation at its next scheduled meeting on July 1, 2021.
In addition, PNC plans to reinstate its share repurchase programs with repurchases of up to $2.9 billion for the four-quarter period beginning in the third quarter of 2021. PNC's common share repurchases may be executed in privately negotiated transactions or through the open "market...,
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