Hello everyone I hope you are all doing great. Today my portfolio received a dividend increase. Today Royal Bank of Canada after releasing their third quarter earnings announced an increase to their dividend.
Royal Bank of Canada (RBC) is a diversified financial services company. The Company provides personal and commercial banking, wealth management services, insurance, investor services and capital markets products and services on a global basis. It operates in five segments: Personal & Commercial Banking, which operates comprises its personal and business banking operations, as well as its auto financing and retail investment businesses; Wealth Management, which comprises Canadian Wealth Management, United States and International Wealth Management and Global Asset Management (GAM); Insurance, which operates under two business lines: Canadian Insurance and International Insurance; Investor & Treasury Services, which is a provider of asset servicing, custody, payments and treasury services, and Capital Markets, which comprises two business lines: Corporate and Investment Banking and Global Markets. It operates in three geographic segments: Canada, United States and Other International.
(Source: Google Finance)
Royal Bank of Canada currently pays a dividend of $0.81 with today’s announcement the dividend will increase 2% to $0.83. This will be payable on November 24th, 2016. Since I initiated a position with RBC this is the 5th increase I have received since 2014.
I currently own 77 shares and with this announcement my income will increase $1.54 in 2016.
If you own shares in the bank (TSX: RY) congrats on the raise.
Matthew
All About The Dividends 
Congrats on the free-income-for-no-extra-effort Matthew. I love how reliable your banks have been at increasing their dividends.
Tristan
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Thanks Tristan since purchasing my bank stocks in 2014 I have received 11 dividend increases. 🙂
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Awesome buddy thats what gets us closer to FI is these dividend raises have been looking at canadian banks but have not got any yet. Maybe my goals for next year acquire one.
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