Thursday, July 30, 2015

After passing stress test, PNC will boost dividend

The Pittsburgh bank holding company was one of 15 big banks to pass the Federal Reserve's latest test to see how 19 financial institutions would fare following a severe economic decline.

After passing stress test, PNC will boost dividend

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PNC Financial Services Group, one of 15 big banks to pass the Federal Reserve's latest stress tests, will be raising its dividend, but has not disclosed by how much.

The Pittsburgh bank holding company currently pays 35 cents per share for its quarterly dividend. PNC's board is expected to discuss hiking that at its April meeting.

Who failed the stress tests? Citigroup, MetLife, Ally Financial and SunTrust.

It's hard to keep track of all the strategic partnerships that Big Pharma makes and breaks. So it was good to read this Bloomberg story updating a biotech business that Merck & Co. sold off in 2007. Okairos AG is working a Phase 2 study of what would be the first vaccine for hepatitis C. Phase 2 is a long way away from regulatory approval, and the National Institutes of Health is funding this study, rather than Okairos' venture capital backers.

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About this blog
Mike Armstrong blogs about Philadelphia corporations and business-related topics. Contact him at 215-854-2980. Reach Mike at marmstrong@phillynews.com.

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