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PNC Financial to increase dividend after capital plan accepted by Fed

The PNC Financial Services Group announced that the Board of Governors of the Federal Reserve System accepted its capital plan and did not object to its proposed capital actions, which included a recommendation to increase the quarterly common stock dividend in Q2. The capital plan also included share repurchase programs of up to $1.5B for the four quarter period beginning in Q2 under PNC's existing common stock repurchase authorization. These programs include repurchases of up to $200M related to employee benefit plans.