Royal Bank of Canada sees quarterly profit rise on trading boost, hikes dividend — SkimNews
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- Royal Bank of Canada reported Q2 profit of $5.5 billion, a 25% YoY increase, with adjusted earnings of $3.90 per share beating analysts’ $3.77 expectation.
- Royal Bank of Canada raised its quarterly dividend by $0.12 to $1.76 per share and announced a $45 million share‑repurchase covering about 3% of its common stock.
- Royal Bank of Canada saw capital‑markets earnings rise 23% to $1.48 billion, powered by higher global‑markets and corporate‑investment banking revenue.
- Royal Bank of Canada cut credit‑loss provisions to $912 million, down from $1.4 billion a year earlier, reflecting a lower expected loan‑default outlook.
- Royal Bank of Canada posted a 17.2% return on equity, exceeding its 17% target and underpinning its profit boost.
Why it matters: Shareholders receive a higher dividend and a $45 million buyback, while the reduced $912 million provision strengthens RBC’s capital cushion, supporting its 17% ROE target and future growth.
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