PITTTSBURGH -- PNC Financial Corp. declared a two-for-one stock split and increased its dividend, on a pre-split basis, to 57 cents a share from 53 cents.

The additional shares will be distributed Nov. 16 to holders of record on Oct. 22.

Thomas H. O'Brien, chairman and chief executive, said the stock split "should bring the per-share price of PNC stock into a more favorable trading range and will broaden the distribution of the shares."

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