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.
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.