Royal Bank of Canada (NYSE:RY) Announces $0.76 Quarterly Dividend

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.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last posted its quarterly earnings data on Thursday, May 23rd. The financial services provider reported $1.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.63 by $0.04. Royal Bank of Canada had a net margin of 20.04% and a return on equity of 17.36%. The business had revenue of $8.63 billion during the quarter, compared to the consensus estimate of $7.60 billion. During the same quarter last year, the company posted $2.06 earnings per share. On average, research analysts predict that Royal Bank of Canada will post 6.7 earnings per share for the current fiscal year.

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

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