Royal Bank of Canada (RY) to Issue Quarterly Dividend of $0.87 on August 24th

Royal Bank of Canada (TSE:RY) (NYSE:RY) announced a quarterly dividend on Thursday, May 25th, RTT News reports. Investors of record on Wednesday, July 26th will be paid a dividend of 0.87 per share by the financial services provider on Thursday, August 24th. This represents a $3.48 dividend on an annualized basis and a yield of 3.68%. The ex-dividend date is Monday, July 24th.

Shares of Royal Bank of Canada (TSE RY) opened at 94.68 on Wednesday. The company has a 50-day moving average price of $94.22 and a 200 day moving average price of $95.07. Royal Bank of Canada has a 1-year low of $78.24 and a 1-year high of $99.90. The company has a market capitalization of $137.94 billion and a P/E ratio of 12.89.

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In other news, insider Jennifer Anne Tory sold 355 shares of the firm’s stock in a transaction that occurred on Monday, April 24th. The shares were sold at an average price of C$95.98, for a total transaction of C$34,072.90. Also, Director David Ian Mckay sold 3,578 shares of the firm’s stock in a transaction that occurred on Monday, April 24th. The stock was sold at an average price of C$95.95, for a total transaction of C$343,309.10. In the last three months, insiders sold 42,561 shares of company stock valued at $3,964,255.

RY has been the subject of a number of research reports. Scotiabank boosted their target price on shares of Royal Bank of Canada from C$101.00 to C$102.00 and gave the company an “outperform” rating in a research note on Friday, May 26th. National Bank Financial reissued a “sector perform” rating and set a C$99.00 price objective on shares of Royal Bank of Canada in a report on Friday, May 26th. Finally, TD Securities reaffirmed a “buy” rating on shares of Royal Bank of Canada in a report on Monday, April 3rd. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of C$95.83.

About Royal Bank of Canada

Royal Bank of Canada (RBC), is a diversified financial services company. The Company provides personal and commercial banking, wealth management services, insurance, investor services and capital markets products and services on a global basis. The Company serves personal, business, public sector and institutional clients in Canada, the United States and approximately 40 other countries.

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

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