Royal Bank of Canada (RY) to Issue Quarterly Dividend of $1.03 on November 22nd

Royal Bank of Canada (NYSE:RY) (TSE:RY) declared a quarterly dividend on Wednesday, August 28th, Zacks reports. Shareholders of record on Thursday, October 24th will be paid a dividend of 1.028 per share by the financial services provider on Friday, November 22nd. This represents a $4.11 annualized dividend and a yield of 3.29%. The ex-dividend date is Thursday, October 24th.

Royal Bank of Canada has increased its dividend by an average of 7.6% per year over the last three years and has raised its dividend every year for the last 14 years. Royal Bank of Canada has a dividend payout ratio of 43.8% indicating that its dividend is sufficiently covered by earnings. Analysts expect Royal Bank of Canada to earn $9.55 per share next year, which means the company should continue to be able to cover its $4.13 annual dividend with an expected future payout ratio of 43.2%.

Royal Bank of Canada Price Performance

Royal Bank of Canada stock opened at $124.99 on Tuesday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.87 and a current ratio of 0.87. Royal Bank of Canada has a 52 week low of $77.90 and a 52 week high of $126.96. The stock has a market capitalization of $176.69 billion, a P/E ratio of 15.11, a price-to-earnings-growth ratio of 2.06 and a beta of 0.86. The stock has a fifty day moving average of $120.67 and a 200-day moving average of $110.69.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last issued its earnings results on Wednesday, August 28th. The financial services provider reported $2.38 EPS for the quarter, topping the consensus estimate of $2.15 by $0.23. Royal Bank of Canada had a return on equity of 15.17% and a net margin of 12.28%. The firm had revenue of $10.68 billion during the quarter, compared to the consensus estimate of $10.40 billion. On average, sell-side analysts expect that Royal Bank of Canada will post 8.91 earnings per share for the current fiscal year.

Analyst Ratings Changes

RY has been the subject of a number of research reports. UBS Group started coverage on shares of Royal Bank of Canada in a report on Tuesday, July 2nd. They issued a “buy” rating for the company. StockNews.com downgraded shares of Royal Bank of Canada from a “hold” rating to a “sell” rating in a research note on Saturday, July 20th. Finally, BMO Capital Markets boosted their price objective on shares of Royal Bank of Canada from $151.00 to $165.00 and gave the stock an “outperform” rating in a research note on Thursday, August 29th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $142.50.

Royal Bank of Canada Company Profile

Royal Bank of Canada operates as a diversified financial service company worldwide. The company's Personal & Commercial Banking segment offers checking and savings accounts, home equity financing, personal lending, private banking, indirect lending, including auto financing, mutual funds and self-directed brokerage accounts, guaranteed investment certificates, credit cards, and payment products and solutions; and lending, leasing, deposit, investment, foreign exchange, cash management, auto dealer financing, trade products, and services to small and medium-sized commercial businesses.