Royal Bank Of Canada (NYSE:RY) to Issue C$1.76 Quarterly Dividend

Royal Bank Of Canada (NYSE:RY) (TSE:RY) announced a quarterly dividend on Thursday, August 27th. Investors of record on Monday, October 26th will be paid a dividend of 1.76 per share by the financial services provider on Tuesday, November 24th. This represents a c) annualized dividend and a yield of 3.4%. The ex-dividend date is Monday, October 26th.

Royal Bank Of Canada has raised its dividend payment by an average of 0.1%annually 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 Stock Down 1.2%

Royal Bank Of Canada stock traded down $2.58 during trading on Thursday, hitting $204.63. 1,724,999 shares of the company were exchanged, compared to its average volume of 1,503,563. The company 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 business’s 50 day moving average is $208.92 and its 200 day moving average is $187.56. Royal Bank Of Canada has a 52 week low of $143.13 and a 52 week high of $218.57. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.10.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last issued its quarterly earnings data on Thursday, August 27th. The financial services provider reported $3.07 earnings per share for the quarter, beating the consensus estimate of $2.89 by $0.18. Royal Bank Of Canada had a return on equity of 17.68% and a net margin of 15.92%. Analysts predict that Royal Bank Of Canada will post 11.59 earnings per share for the current year.

Institutional Investors Weigh In On Royal Bank Of Canada

Hedge funds have recently made changes to their positions in the business. HighTower Advisors LLC lifted its position in Royal Bank Of Canada by 18.5% during the fourth quarter. HighTower Advisors LLC now owns 96,234 shares of the financial services provider’s stock valued at $16,407,000 after purchasing an additional 15,046 shares during the last quarter. Fisher Asset Management LLC grew its stake in Royal Bank Of Canada by 6.1% in the 4th quarter. Fisher Asset Management LLC now owns 6,373,400 shares of the financial services provider’s stock worth $1,086,601,000 after buying an additional 368,534 shares in the last quarter. The Manufacturers Life Insurance Company bought a new position in shares of Royal Bank Of Canada in the 2nd quarter worth $2,296,717,000. Rathbones Group PLC increased its holdings in shares of Royal Bank Of Canada by 9.0% in the 4th quarter. Rathbones Group PLC now owns 325,014 shares of the financial services provider’s stock worth $55,480,000 after buying an additional 26,782 shares during the last quarter. Finally, Indivisible Partners purchased a new stake in shares of Royal Bank Of Canada during the 4th quarter valued at $7,335,000. 45.31% of the stock is currently owned by institutional investors.

About Royal Bank Of Canada

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.