Royal Bank of Canada (TSE:RY) Increases Dividend to $1.76 Per Share

Royal Bank of Canada (TSE:RY) (NYSE:RY) announced a quarterly dividend on Monday, July 27th, TickerTech Dividends reports. Investors of record on Monday, August 24th will be paid 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 dividend yield of 2.4%. The ex-dividend date 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 Price Performance

Shares of RY stock opened at C$295.01 on Friday. Royal Bank of Canada has a 1-year low of C$175.50 and a 1-year high of C$306.38. The stock’s 50-day moving average is C$281.85 and its 200 day moving average is C$250.30. The company has a market cap of C$409.96 billion, a P/E ratio of 19.18, a PEG ratio of 3.42 and a beta of 1.05.

Royal Bank of Canada (TSE:RY) (NYSE:RY) last posted its earnings results on Thursday, May 28th. The financial services provider reported C$3.90 earnings per share (EPS) for the quarter. The company had revenue of C$17.45 billion for the quarter. Royal Bank of Canada had a return on equity of 15.95% and a net margin of 18.40%. On average, analysts anticipate that Royal Bank of Canada will post 12.3454675 EPS for the current year.

About Royal Bank of Canada

Royal Bank of Canada is a global financial institution with a purpose-driven, principles-led approach to delivering leading performance. Our success comes from the 101,000+ employees who leverage their imaginations and insights to bring our vision, values and strategy to life so we can help our clients thrive and communities prosper. As Canada’s biggest bank and one of the largest in the world, based on market capitalization, we have a diversified business model with a focus on innovation and providing exceptional experiences to our more than 19 million clients in Canada, the U.S.