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

Royal Bank Of Canada (NYSE:RY) (TSE:RY) announced a quarterly dividend on Thursday, August 27th. Stockholders of record on Monday, October 26th will be given a dividend of 1.76 per share by the financial services provider on Tuesday, November 24th. This represents a c) dividend on an annualized basis 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 increased its dividend annually for the last 15 consecutive years. Royal Bank Of Canada has a payout ratio of 48.6% indicating that its dividend is sufficiently covered by earnings. 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 Price Performance

RY opened at $204.63 on Friday. The firm has a market capitalization of $283.74 billion, a P/E ratio of 18.39, a PEG ratio of 1.56 and a beta of 0.80. The stock has a fifty day moving average of $208.98 and a 200-day moving average of $187.80. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.10. Royal Bank Of Canada has a 12-month low of $143.13 and a 12-month high of $218.57.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last issued its quarterly earnings results on Thursday, August 27th. The financial services provider reported $3.07 earnings per share for the quarter, beating analysts’ consensus estimates of $2.89 by $0.18. The business had revenue of $13.22 billion for the quarter, compared to the consensus estimate of $12.98 billion. Royal Bank Of Canada had a return on equity of 17.68% and a net margin of 15.92%. Equities analysts forecast that Royal Bank Of Canada will post 11.59 EPS for the current fiscal year.

Key Stories Impacting Royal Bank Of Canada

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

• Positive Sentiment: Record quarterly earnings beat expectations. RBC reported third-quarter adjusted earnings of $3.07 per share, above the $2.89 consensus estimate, while revenue reached $13.22 billion versus expectations of $12.98 billion. Earnings increased from $2.79 per share a year earlier. Royal Bank Q3 Earnings and Revenues Beat Estimates
• Positive Sentiment: Profit growth was broad-based. Reported Canadian third-quarter net income rose to C$6.02 billion, or C$4.23 per share, from C$5.41 billion, or C$3.75 per share, a year earlier. Capital markets and commercial banking were highlighted as key sources of strength. RBC Tops Expectations on Strength in Capital Markets and Commercial Banking
• Positive Sentiment: RBC increased shareholder returns. The bank declared a quarterly dividend of $1.76 per share, equivalent to approximately $7.04 annually and a reported yield of about 3.4%. Investors of record on October 26 will receive payment on November 24. Royal Bank of Canada Dividend Announcement
• Neutral Sentiment: Oil-market uncertainty remains a broader risk. RBC Capital Markets strategists said that, although Gulf oil supplies are rising, significant hurdles remain for the market following the Iran conflict. This could affect economic conditions and market sentiment, but the article does not identify a direct change to RBC’s operations or earnings outlook. Wall Street Divisions Over Oil Prices

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.