Royal Bank of Canada announced today that its board of directors has declared a quarterly common share dividend of $1.08 per share, payable on and after November 24, 2021, to common shareholders of record at the close of business on October 26, 2021.

The board also declared dividends for the following Non-Cumulative First Preferred Shares, payable on and after November 24, 2021, to shareholders of record at the close of business on October 26, 2021.

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·        Series AZ Dividend No. 31   of $0.23125 per share.
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The board also declared a dividend for the following US$ Non-Cumulative First Preferred Shares.

  • Series C-2, Dividend No. 24 of US$16.875 per share (equivalent to US$0.421875 per related depositary share), payable on November 5, 2021, to shareholders of record on October 26, 2021.–

Third quarter 2021 results announced today

RBC reported today net income of $4.3bn for the quarter ended July 31, 2021, up $1.1bn or 34% from the prior year.

Diluted EPS was $2.97, up 35% over the same period.

The results this quarter included releases of provisions on performing loans of $638m mainly driven by improvements in our credit quality and macroeconomic outlook as compared to provisions of $280m taken in the prior year due to the evolving impact of the Covid-19 pandemic.

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Earnings in Personal & Commercial Banking, Capital Markets and Wealth Management were up from last year, largely due to the favourable impact of lower provisions.

Higher results in Insurance and Investor & Treasury Services also contributed to the increase.

RBC and its subsidiaries operate under the master brand name RBC. It is one of Canada’s biggest banks, and among the largest in the world based on market capitalisation.

The bank has more than 88,000 employees who serve 17 million clients in Canada, the U.S. and 27 other countries.

RBC is one of North America’s leading diversified financial services companies, and provide personal and commercial banking, wealth management, insurance, investor services and capital markets products and services on a global basis.

RBI’s ‘North American Retail Bank of the Year’ for third consecutive year

RBC has been recognised with multiple RBI awards. The accolades include North American Retail Bank of the Year; Best Loyalty/Rewards Strategy; and Best Latin/Caribbean Bank of the Year.