A printed circuit board includes a planar first outer layer, a planar second outer layer, and a planar capacitive power distribution core disposed between the first and second outer layers. The capacitive core is formed from first and second electrically conductive layers with a dielectric layer disposed therebetween. The dielectric layer is made from a high dielectric constant material such as a ceramic in the form of a perforated sheet. The perforations permit the electrically conductive layers to be bound to the dielectric layer without significantly increasing the separation between the conductive layers. Each perforation allows a column of adhesive to collect therein to bond the power distribution core together. The resulting capacitance is typically sufficient to eliminate the need for decoupling capacitors.