Hey folks I just received a dividend increase and thought I would share it with you. On August 23, 2017 Royal Bank of Canada released it’s 3rd quarter earnings and announced a 4.6% increase in their dividend. This is the first increase my portfolio has received since May.
Last Wednesday’s announcement marked the second increase of the year for RBC. The first increase was in February. For the past few years RBC has been increasing their dividend every other quarter so this new announcement was no big surprise.
Before this announcement RBC paid a quarterly dividend of $0.87 per share, now the new dividend is $0.91 per share a 4.6%.
This is the 7th increase I have received from the bank since I purchased shares in 2014. I currently own 77 shares so with this raise my income will grow $3.08 per quarter and $12.32 annually.
When I add both increases together my income increases $24.64 not to bad if I may say so.
Hey guys just wanted to let you know that Mark from My Own Advisor and I wrote a post together please go and check it out here.
Congratulations to all my fellow shareholders.
Thanks for reading everyone I appreciate it.