Published July 7, 2016 10:31am EDT | Updated July 7, 2016 11:04am EDT

PNC Raises Quarterly Dividend To 55 Cents a Share From 51 Cents

PNC Financial Services Group Inc. said Thursday it is raising its quarterly dividend to 55 cents a share from 51 cents. The new payment will be made Aug. 5 to shareholders of record as of July 18. Shares rose 1% in early trade, but are down about 16% in the year so far, while the S&P 500 has gained 3%.