Royal Bank of Canada (TSE:RY) Announces Dividend Increase - $1.76 Per Share

Key Points

• Royal Bank of Canada declared a quarterly dividend of $1.76 per share, up 7.3% from the prior $1.64 payment. The dividend yield was reported at about 2.4%.
• The dividend is set to be paid on August 24 to shareholders of record as of August 24, with the ex-dividend date listed as July 27.
• Recent updates around the stock were mostly positive, including a “Moderate Buy” analyst consensus and the share price moving above its 200-day moving average, though insider selling was also noted.

Royal Bank of Canada (TSE:RY - Get Free Report) NYSE: RY declared a quarterly dividend on Monday, July 27th, TickerTech Dividends reports. Shareholders 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) annualized dividend and a dividend yield of 2.4%. 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 Stock Performance

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

Royal Bank of Canada (TSE:RY - Get Free Report) NYSE: RY last issued its quarterly earnings results on Thursday, May 28th. The financial services provider reported C$3.90 earnings per share (EPS) for the quarter. Royal Bank of Canada had a return on equity of 15.95% and a net margin of 18.40%.The firm had revenue of C$17.45 billion during the quarter. As a group, analysts predict that Royal Bank of Canada will post 12.3454675 earnings per share for the current fiscal year.

More Royal Bank of Canada News

Here are the key news stories impacting Royal Bank of Canada this week:

• Positive Sentiment: Royal Bank of Canada received a consensus analyst recommendation of "Moderate Buy", which suggests Wall Street views remain favorable and may be supporting the stock. Royal Bank of Canada TSE: RY Receives Consensus Recommendation of "Moderate Buy" from Analysts
• Positive Sentiment: The share price crossed above its 200-day moving average, a bullish technical signal that can attract momentum buyers and indicate improving investor confidence. Royal Bank of Canada TSE: RY Share Price Crosses Above 200 Day Moving Average - What's Next?
• Negative Sentiment: Multiple insiders sold shares, including a large sale by Director David Ian McKay and additional sales by Katherine Gibson, Graeme Ashley Hepworth, and Bruce Washington Ross. Insider selling can weigh on sentiment because investors may view it as a sign of caution, even if it is often routine diversification.

Royal Bank of Canada Company Profile

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.

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