I'm trying the following code over Lubuntu 12.04, Apache, PHP 5.5.3-1ubuntu2, pdo_mysql 5.5.32 and MySQL 5.5.32-0ubuntu7-log.
$dbh = new \PDO("mysql:host=$hostname;dbname=test_db;charset=utf-8", $username, $password);
$dbh->exec('SET NAMES utf8');
$sql = "SELECT name FROM test_table";
foreach ($dbh->query($sql) as $row) {
    error_log(bin2hex($row['name']));
}
And I get 44656d6f737472616369c3b36e. If I comment the SET NAMES utf8 query, I get 44656d6f737472616369f36e (the difference being c3b3 instead of f3).
From the MySQL client, When issuing SELECT HEX(name) FROM test_table limit 1; I get 44656D6F737472616369C3B36E.
So it seems the extra query is needed, but according to this it shouldn't.
Am I doing something wrong?
EDIT
I tried both with charset=utf-8 and charset=utf8 and I'm getting the same result.
Output of SHOW CREATE TABLE test_table:
CREATE TABLE `test_table` (
    `name` varchar(255) DEFAULT NULL
) ENGINE=InnoDB DEFAULT CHARSET=utf8
Relevant output of SHOW FULL COLUMNS FROM test_table:
+-------+--------------+-----------------+
| Field | Type         | Collation       |
+-------+--------------+-----------------+
| name  | varchar(255) | utf8_general_ci |
+-------+--------------+-----------------+
 
     
     
    