Hi everyone hope all of you had a great summer. I am back from my mini writing break, I hope to start writing more often now as I get back into my normal routine as school starts next week. Today’s post is going to focus on a dividend increase I received back on August 22nd from Royal Bank of Canada when they announced their quarterly results.
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)
As mentioned above RBC announced a raise to their dividend, the raise was 4.3%. The dividend will rise to $0.98 per share up from $0.94. This is the 9th raise I have received this I began owning shares in 2014.
I currently own 77 shares so with this announcement my quarterly income will increase $3.08, annually it will rise by $12.32.
Congrats to all of the other shareholders who received this raise.
Thanks for reading