Navigate this market better. Subscribe for FREE stock alerts and information.

Friday, August 22, 2014

RBC raises dividend as profit edges higher, (NYSE: RY), (TSE: RY.TO)

Royal Bank of Canada on Friday reported a bigger-than-expected increase in quarterly earnings, driven by strong results from its wealth management and capital markets divisions.Canada's largest bank, as widely expected, also boosted its quarterly dividend by about 6 percent to 75 Canadian cents a share."We view this as an exceptionally strong quarter with very little to poke holes in, on our first cut," Barclays analyst John Aiken said in a note on Friday. "While we are decidedly positive on the results, naysayers will question the sustainability of the trading revenues and insurance earnings."Aiken, however, does not expect this to be an overhang on the stock, and he sees RBC shares reacting "quite favourably" when trading begins on Friday.

Royal Bank of Canada, is a Canada-based banking company. Shares of RY traded higher by 0.39% or $0.29/share to $74.65. In the past year, the shares have traded as low as $60.76 and as high as $74.82. On average, 422248 shares of RY exchange hands on a given day and today's volume is recorded at 675324.

Royal Bank of Canada, is a Canada-based banking company. Shares of RY traded higher by 0.07% or $0.06/share to $81.66. In the past year, the shares have traded as low as $63.62 and as high as $81.91. On average, 1838120 shares of RY.TO exchange hands on a given day and today's volume is recorded at 2007814.



Source