Royal Bank of Canada (NYSE:RY) (TSE:RY) announced a quarterly dividend on Friday, May 24th, Wall Street Journal reports. Stockholders of record on Thursday, July 25th will be paid a dividend of 0.7596 per share by the financial services provider on Friday, August 23rd. This represents a $3.04 annualized dividend and a dividend yield of 3.80%. The ex-dividend date is Wednesday, July 24th.
Royal Bank of Canada has increased its dividend payment by an average of 3.5% per year over the last three years and has increased its dividend every year for the last 2 years.
NYSE RY opened at $79.90 on Tuesday. Royal Bank of Canada has a 52-week low of $65.76 and a 52-week high of $81.56. The stock’s 50-day moving average is $79.08. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.92 and a quick ratio of 0.92. The stock has a market capitalization of $115.33 billion, a P/E ratio of 12.01, a PEG ratio of 2.10 and a beta of 1.07.
Several equities analysts have recently weighed in on the stock. Barclays reiterated a “sell” rating on shares of Royal Bank of Canada in a research note on Thursday, May 23rd. BMO Capital Markets reiterated a “hold” rating on shares of Royal Bank of Canada in a research note on Thursday, May 23rd. Zacks Investment Research upgraded shares of Vistra Energy from a “hold” rating to a “buy” rating and set a $25.00 target price for the company in a research note on Saturday, July 13th. Finally, Desjardins reiterated a “hold” rating on shares of Choice Properties REIT in a research note on Thursday, May 16th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the stock. Royal Bank of Canada currently has an average rating of “Hold” and a consensus price target of $99.25.
About Royal Bank of Canada
Royal Bank of Canada operates as a diversified financial service company worldwide. The company's Personal & Commercial Banking segment offers check and savings accounts; home equity and auto financing, personal lending, private banking, mutual fund, self-directed brokerage account, and guaranteed investment certificate services; and credit cards, and payment products and solutions for individuals.
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