Hello everyone how are you? Last Friday Royal Bank of Canada announced a dividend increase, they have increased it to $0.94 from $0.91. This is the fifth dividend increase for my portfolio this year.
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. The Company serves personal, business, public sector and institutional clients in Canada, the United States and approximately 40 other countries. The Company’s business segments include Personal and Commercial Banking, Wealth Management, Insurance, Investor and Treasury Services, Capital Markets. The Company, through its segments, serves various lines of businesses, which include Personal Financial Services, Business Financial Services, Cards and Payment Solutions (Canadian Banking), Caribbean and United States Banking, Canadian Wealth Management, United States and International Wealth Management, Global Asset Management, Canadian Insurance, International Insurance, Corporate and Investment Banking, Global Markets and Other.
Source: (RBC Direct Investing)
I currently own 77 shares of Royal Bank of Canada and with this decision to raise the dividend my income will grow $2.31 quarterly and $9.24 annually. Not a huge increase but keep in mind RBC has been raising their dividend every other quarter the last few years so in August we should see another raise. This is the 8th raise I have received from from RBC since I’ve owned the stock since 2014.
Congrats to my fellow shareholders on receiving this raise.
Thanks for reading