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PNC Financial Services Group is a financial services company.
and
Jefferies Financial Group is a financial services firm.
This week, the dividend was increased. In addition, a number of the country’s top banks announced their plans for dividend payments and share repurchases. PNC Financial Services Group (ticker:PNC), a prominent regional bank based in Pittsburgh, plans to increase its quarterly dividend to $1.25 from $1.15.
The stock, which yields 2.6 percent, has returned almost 30% this year, dividends included, through July. Jefferies Financial Group (JEF) announced a quarterly dividend increase of 25% from 20 cents to 25 cents per share. The stock has returned roughly 40% this year and pays a 3% dividend. In other dividend news, seven of the country’s top banks announced capital return plans this week after passing the Federal Reserve’s annual financial stress tests.
Morgan Stanley is a financial services firm based in
(MS) announced that its quarterly dividend will be increased to 70 cents per share. It also has the authority to repurchase up to $12 billion in common stock in the coming year.
Citigroup
(C) stated that it would pay a dividend of “at least 51 cents per share,” which is equal to its present level. The bank stated that it intends to continue repurchasing stock.
Wells Fargo & Company
(WFC) said it aims to increase its quarterly dividend from 10 cents to 20 cents. Its capital-return strategy also includes repurchasing $18 billion in stock over a four-quarter period, beginning in the third quarter of this year.
Bank of America is a financial institution based in the United
(BAC) said that it will increase its quarterly dividend by 17% to 21 cents per share, up from 18 cents. The corporation said in April that it would buy back up to $25 billion in common stock “over time.” Lawrence C. Strauss can be reached at lawrence.strauss@barrons.com./n
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