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Royal Bank of Canada Raises Quarterly Dividend by 2.3%

Provided by Dow Jones

May 25, 2023 10:29am

By Colin Kellaher

Royal Bank of Canada on Thursday said its board raised the quarterly dividend by 2.3% to 1.35 Canadian dollars (US$0.99) from C$1.32.

The new payout, equal to C$5.40 a year, represents an annual yield of about 4.36% based on Wednesday's closing price of C$123.75, up from 4.27%.

The Toronto banking giant said the increased dividend is payable Aug. 24 to shareholders of record July 26.

Write to Colin Kellaher at colin.kellaher@wsj.com

(END) Dow Jones Newswires

May 25, 2023 06:29 ET (10:29 GMT)

Copyright (c) 2023 Dow Jones & Company, Inc.

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