Royal Bank Of Canada (NYSE:RY) Increases Dividend to C$1.76 Per Share

Royal Bank Of Canada (NYSE:RY) (TSE:RY) declared a quarterly dividend on Thursday, May 28th. Investors of record on Monday, July 27th will be given a dividend of 1.76 per share by the financial services provider on Monday, August 24th. This represents a c) dividend on an annualized basis and a yield of 3.7%. The ex-dividend date of this dividend is Monday, July 27th. This is a 7.3% increase from Royal Bank Of Canada’s previous quarterly dividend of $1.64.

Royal Bank Of Canada has increased its dividend payment by an average of 0.1%per year over the last three years and has raised its dividend annually for the last 15 consecutive years. Royal Bank Of Canada has a dividend payout ratio of 46.2% indicating that its dividend is sufficiently covered by earnings. Analysts expect Royal Bank Of Canada to earn $12.69 per share next year, which means the company should continue to be able to cover its $4.71 annual dividend with an expected future payout ratio of 37.1%.

Royal Bank Of Canada Price Performance

NYSE RY traded down $0.14 during trading hours on Thursday, reaching $188.99. The company’s stock had a trading volume of 1,323,062 shares, compared to its average volume of 947,843. The firm’s 50-day moving average price is $174.22 and its 200-day moving average price is $168.00. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.09. Royal Bank Of Canada has a 1 year low of $124.19 and a 1 year high of $191.51. The company has a market capitalization of $264.16 billion, a price-to-earnings ratio of 18.09, a PEG ratio of 1.48 and a beta of 0.80.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last posted its quarterly earnings results on Thursday, February 26th. The financial services provider reported $2.94 EPS for the quarter, topping analysts’ consensus estimates of $2.81 by $0.13. Royal Bank Of Canada had a return on equity of 17.12% and a net margin of 15.28%.The company had revenue of $13.18 billion for the quarter, compared to analysts’ expectations of $12.60 billion. During the same period in the previous year, the firm earned $3.62 EPS. The firm’s revenue was up 4.4% compared to the same quarter last year. On average, equities research analysts predict that Royal Bank Of Canada will post 11.53 EPS for the current fiscal year.

About Royal Bank Of Canada

Royal Bank of Canada (NYSE: RY) is a diversified financial services company and one of Canada’s largest banks. Founded in 1864 in Halifax, Nova Scotia, the firm is now headquartered in Toronto, Ontario. It provides a broad range of banking and financial services to individuals, businesses, and institutional clients through a network of branches, digital platforms and international offices.

RBC operates across several principal business segments including personal and commercial banking, wealth management, insurance, investor and treasury services, capital markets, and global asset management.