Breaking News: Royal Bank of Canada Announces Dividend Increase
RBC Board Declares Quarterly Common Share Dividend Hike
In a major financial development, the Royal Bank of Canada (RBC) has announced an increase to its quarterly common share dividend. The board of directors approved the dividend increase, which is effective for dividends payable on and after April 1, 2023, to shareholders of record as of March 15, 2023.
Details of the Dividend Increase
The new quarterly dividend will be CA$1.33 per share, an increase of CA$0.05 per share from the previous quarterly dividend of CA$1.28. This represents an annual dividend of CA$5.32 per share, a 4% increase from the previous annual dividend of CA$5.12.
RBC's decision to increase its dividend is a sign of the bank's financial strength and its commitment to rewarding shareholders. The dividend increase is expected to benefit investors who rely on dividend income or hold RBC shares for long-term growth.
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