Royal Bank of Canada (RY) Announces Quarterly Dividend of $0.63

Royal Bank of Canada (TSE:RY) announced a quarterly dividend on Thursday, May 30th, AnalystRatingsNetwork.com reports. Stockholders of record on Thursday, July 25th will be paid a dividend of $0.63 per share on Friday, August 23rd. This represents a $2.52 annualized dividend and a dividend yield of 3.94%.

RY has been the subject of a number of recent research reports. Analysts at CIBC raised their price target on shares of Royal Bank of Canada from C$64.00 to C$70.00 in a research note to investors on Monday, March 4th. They now have a “sector outperform” rating on the stock. On a related note, analysts at Scotiabank reiterated a “sector outperform” rating on shares of Royal Bank of Canada in a research note to investors on Friday, March 1st. Finally, analysts at TD Securities raised their price target on shares of Royal Bank of Canada from C$63.00 to C$65.00 in a research note to investors on Friday, March 1st. They now have a “hold” rating on the stock.

Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of C$66.83.

Royal Bank of Canada (TSE: RY) opened at 63.98 on Thursday. Royal Bank of Canada has a 52-week low of $48.70 and a 52-week high of $64.92. The stock’s 50-day moving average is currently $61.36. The company has a market cap of $92.524 billion and a price-to-earnings ratio of 12.52.

Royal Bank of Canada (TSE: RY) is a diversified financial services company.

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