RBC Q4 profit amounted to $4.22 billion, raises quarterly dividend

Royal Bank of Canada raised its dividend as it reported a fourth-quarter profit of $4.22 billion, up from $3.94 billion in the same quarter last year.

 

The bank says it will now pay a quarterly dividend of $1.48 per share, up from $1.42 per share.

 

The increased payment to shareholders came as RBC says it earned $2.91 per diluted share for the quarter ended Oct. 31, up from a profit of $2.76 per diluted share in the same quarter last year.

Revenue totalled $15.07 billion, up from $12.69 billion a year ago, while its provision for credit losses amounted to $840 million, up from $720 million in the same quarter last year.

 

On an adjusted basis, RBC says it earned $3.07 per diluted share in its latest quarter, up from an adjusted profit of $2.65 per diluted share a year earlier.

 

The average analyst estimate had been for an adjusted profit of $3.01 per share, according to data provided by LSEG Data & Analytics.

 

 

 

 

This article was first reported by The Canadian Press