Royal Bank of Canada (NYSE:RY) Announces Quarterly Dividend of $1.05

Royal Bank of Canada (NYSE:RY) (TSE:RY) declared a quarterly dividend on Thursday, December 5th,Wall Street Journal reports. Investors of record on Monday, January 27th will be given a dividend of 1.0522 per share by the financial services provider on Monday, February 24th. This represents a $4.21 dividend on an annualized basis and a dividend yield of 3.29%. The ex-dividend date is Monday, January 27th. This is a positive change from Royal Bank of Canada’s previous quarterly dividend of $1.03.

Royal Bank of Canada has increased its dividend by an average of 7.6% annually over the last three years and has increased its dividend annually for the last 14 consecutive years. Royal Bank of Canada has a dividend payout ratio of 44.3% indicating that its dividend is sufficiently covered by earnings. Analysts expect Royal Bank of Canada to earn $9.27 per share next year, which means the company should continue to be able to cover its $4.06 annual dividend with an expected future payout ratio of 43.8%.

Royal Bank of Canada Price Performance

Shares of RY opened at $128.04 on Friday. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.87 and a quick ratio of 0.87. Royal Bank of Canada has a 1-year low of $90.71 and a 1-year high of $128.05. The stock has a market cap of $181.01 billion, a PE ratio of 15.50, a price-to-earnings-growth ratio of 1.85 and a beta of 0.86. The firm has a fifty day moving average price of $123.78 and a 200 day moving average price of $115.89.

Wall Street Analysts Forecast Growth

RY has been the subject of several research reports. Barclays raised Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a report on Thursday, November 21st. TD Securities cut Royal Bank of Canada from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. Finally, BMO Capital Markets lowered their target price on shares of Royal Bank of Canada from $195.00 to $193.00 and set an “outperform” rating on the stock in a research report on Thursday. One analyst has rated the stock with a sell rating, one has assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $156.50.

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.