Royal Bank of Canada (RY) to Issue Quarterly Dividend of $0.94 on May 24th

Royal Bank of Canada (TSE:RY) (NYSE:RY) declared a quarterly dividend on Friday, February 23rd, RTT News reports. Shareholders of record on Wednesday, April 25th will be given a dividend of 0.94 per share by the financial services provider on Thursday, May 24th. This represents a $3.76 dividend on an annualized basis and a yield of 3.87%. The ex-dividend date is Tuesday, April 24th. This is a boost from Royal Bank of Canada’s previous quarterly dividend of $0.91.

Shares of Royal Bank of Canada stock opened at C$97.28 on Monday. Royal Bank of Canada has a 52-week low of C$90.13 and a 52-week high of C$108.52.

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Royal Bank of Canada (TSE:RY) (NYSE:RY) last announced its quarterly earnings data on Friday, February 23rd. The financial services provider reported C$2.17 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of C$1.97 by C$0.20. Royal Bank of Canada had a net margin of 26.17% and a return on equity of 16.49%. The company had revenue of C$10.83 billion during the quarter, compared to analysts’ expectations of C$9.82 billion.



In other Royal Bank of Canada news, Director David Ian Mckay sold 10,282 shares of the company’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of C$102.37, for a total value of C$1,052,568.34. Also, insider Alex Douglas Mcgregor sold 10,000 shares of the company’s stock in a transaction on Wednesday, March 21st. The stock was sold at an average price of C$102.63, for a total transaction of C$1,026,300.00. Insiders have sold a total of 38,078 shares of company stock valued at $3,866,839 in the last three months.

A number of brokerages have recently issued reports on RY. Canaccord Genuity increased their price target on shares of Royal Bank of Canada from C$107.00 to C$109.00 in a research report on Monday, February 26th. Barclays increased their price target on shares of Royal Bank of Canada from C$100.00 to C$103.00 in a research report on Monday, February 26th. BMO Capital Markets reissued a “market perform” rating and set a C$106.00 price target on shares of Royal Bank of Canada in a research report on Monday, February 26th. National Bank Financial increased their price target on shares of Royal Bank of Canada from C$107.00 to C$109.00 and gave the company a “sector perform” rating in a research report on Monday, February 26th. Finally, CSFB increased their price target on shares of Royal Bank of Canada from C$108.00 to C$114.00 in a research report on Friday, January 19th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of C$110.80.

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Royal Bank of Canada Company Profile

Royal Bank of Canada, together with its subsidiaries, operates as a diversified financial service company worldwide. The company's Personal & Commercial Banking segment offers personal and business banking services, as well as auto financing and retail investment products. This segment also provides a suite of financial products and services to individual, business clients, and public institutions through its branch, automated teller machines, online, mobile, and telephone banking networks, as well as through sales professionals.

Dividend History for Royal Bank of Canada (TSE:RY)

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