The PNC Financial Services Group, Inc. (NYSE: PNC) Tuesday reported a modest increase in revenues and net income for the second quarter of 2024.
Net income attributable to common shareholders was $1.36 billion or $3.39 per share in the June quarter, compared to $1.35 billion or $3.36 per share in the comparable period of 2023. The company raised its quarterly cash dividend on common stock to $1.60 per share, an increase of 5 cents per share, payable on August 5, 2024, to shareholders of record on July 15, 2024.
Revenues moved up 2% annually to $5.41 billion during the three months. Net interest income and net interest margin increased, marking the beginning of the management’s growth trajectory towards the expected record NII in 2025.