Terrible news about RBC exoloring sale of the old Centura franchise. Maybe TD or BMO would be interested in expanding their US operations. Hopefully they are considering BB&T as a means of expansion. I'm probably just dreaming though.
I had hoped for 40¢/q... But it was close at 35¢/q. PNC BOD is very cautious indeed.
However, dont discard also the $ 500 M approuved for stock repurchases. Before with a 10¢/q dividend and 525 M shares, the total payout was set at $ 210 M/year. Now with 35¢/q and the $ 500 M approved for the repurchase program, PNC BOD just commit the company to a total payout of $1,235 M. This is about 5 times higher!!! Taken together,it is very positive.