Royal Bank of Canada (RY), the country’s largest lender, is raising its quarterly dividend by 6%.
The Toronto-based bank says it will now pay an quarterly dividend of $1.64 per share, up from $1.54 per share previously.
News of the raised distribution to shareholders comes as the bank reported that its fiscal fourth-quarter profit rose from a year earlier.
Royal Bank announced adjusted earnings per share (EPS) of $3.85 U.S. for the quarter ended Oct. 31, up from a profit of $3.07 a year ago.
Revenue in the quarter totalled $17.21 billion, up from $15.07 billion in the same period of 2024.
Analysts had expected Royal Bank to report a fiscal Q4 profit of $3.53 per share, according to estimates compiled by LSEG Data (LSEG).
Royal Bank of Canada has now increased its dividend for 15 consecutive years. It first paid a dividend to shareholders in 1870.
RY stock has risen 26% this year to trade at $216.21 per share in Toronto.
