Royal Bank Of Canada (NYSE:RY) to Issue Quarterly Dividend of C$1.76

Key Points

• Royal Bank of Canada declared a quarterly dividend of C$1.76 per share, payable November 24 to shareholders of record October 26, implying a 3.4% dividend yield.
• RBC has raised its dividend for 15 consecutive years, with a 48.6% payout ratio and an expected future payout ratio of 39.2%, indicating continued earnings coverage.
• The bank reported quarterly earnings of $3.07 per share, exceeding analysts’ $2.89 estimate, while its shares fell 1.2% to $204.63 in Thursday trading.

Royal Bank Of Canada (NYSE:RY - Get Free Report) TSE: RY announced a quarterly dividend on Thursday, August 27th. Investors of record on Monday, October 26th will be paid a dividend of 1.76 per share by the financial services provider on Tuesday, November 24th. This represents a c) annualized dividend and a dividend yield of 3.4%. The ex-dividend date is Monday, October 26th.

Royal Bank Of Canada has increased its dividend 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 payout ratio of 48.6% meaning its dividend is sufficiently covered by earnings. Research analysts expect Royal Bank Of Canada to earn $12.63 per share next year, which means the company should continue to be able to cover its $4.95 annual dividend with an expected future payout ratio of 39.2%.

Royal Bank Of Canada Trading Down 1.2%

Shares of Royal Bank Of Canada stock traded down $2.58 on Thursday, hitting $204.63. 1,724,999 shares of the company's stock traded hands, compared to its average volume of 1,503,563. The company has a fifty day moving average of $208.92 and a two-hundred day moving average of $187.56. Royal Bank Of Canada has a one year low of $143.13 and a one year high of $218.57. The company has a market capitalization of $283.74 billion, a price-to-earnings ratio of 18.39, a price-to-earnings-growth ratio of 1.56 and a beta of 0.80. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.82 and a quick ratio of 0.82.

Royal Bank Of Canada (NYSE:RY - Get Free Report) TSE: RY last issued its earnings results on Thursday, August 27th. The financial services provider reported $3.07 earnings per share for the quarter, topping analysts' consensus estimates of $2.89 by $0.18. Royal Bank Of Canada had a return on equity of 17.68% and a net margin of 15.92%. As a group, sell-side analysts expect that Royal Bank Of Canada will post 11.59 earnings per share for the current year.

Institutional Trading of Royal Bank Of Canada

Several hedge funds have recently bought and sold shares of the business. Harvest Fund Management Co. Ltd bought a new position in shares of Royal Bank Of Canada in the fourth quarter valued at $25,000. Key Financial Inc increased its position in shares of Royal Bank Of Canada by 63.0% during the first quarter. Key Financial Inc now owns 163 shares of the financial services provider's stock worth $26,000 after acquiring an additional 63 shares in the last quarter. Johnson Financial Group Inc. acquired a new stake in shares of Royal Bank Of Canada in the 3rd quarter worth about $27,000. BOK Financial Private Wealth Inc. acquired a new stake in shares of Royal Bank Of Canada in the 2nd quarter worth about $28,000. Finally, Maseco LLP lifted its position in Royal Bank Of Canada by 355.0% in the 1st quarter. Maseco LLP now owns 182 shares of the financial services provider's stock valued at $29,000 after acquiring an additional 142 shares in the last quarter. Institutional investors and hedge funds own 45.31% of the company's stock.

Royal Bank Of Canada Company Profile

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.

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