Royal Bank of Canada (TSE:RY) (NYSE:RY) announced a quarterly dividend on Thursday, May 25th. Stockholders of record on Wednesday, July 26th will be paid a dividend of 0.87 per share by the financial services provider on Thursday, August 24th. This represents a $3.48 dividend on an annualized basis and a dividend yield of 3.74%.

Shares of Royal Bank of Canada (TSE:RY) traded up 1.38% during mid-day trading on Thursday, hitting $94.28. The stock had a trading volume of 2,053,236 shares. Royal Bank of Canada has a 52-week low of $74.64 and a 52-week high of $99.90. The company has a market cap of $139.09 billion and a PE ratio of 13.16. The stock has a 50 day moving average price of $94.42 and a 200-day moving average price of $93.59.

Dividend History for Royal Bank of Canada (TSE:RY)

In other news, insider Jennifer Anne Tory sold 362 shares of the firm’s stock in a transaction on Friday, May 19th. The stock was sold at an average price of C$92.87, for a total transaction of C$33,618.94. Also, Director David Ian Mckay sold 3,578 shares of the firm’s stock in a transaction on Monday, April 24th. The stock was sold at an average price of C$95.95, for a total value of C$343,309.10. Insiders have sold 47,701 shares of company stock valued at $4,650,454 in the last three months.

RY has been the subject of several research analyst reports. TD Securities reaffirmed a “buy” rating on shares of Royal Bank of Canada in a research note on Monday, April 3rd. CIBC raised their price objective on Royal Bank of Canada from C$101.00 to C$106.00 in a research note on Tuesday, March 7th. National Bank Financial reaffirmed a “sector perform” rating on shares of Royal Bank of Canada in a research note on Monday, February 20th. Keefe, Bruyette & Woods raised their price objective on Royal Bank of Canada from C$92.00 to C$99.00 and gave the company a “market perform” rating in a research note on Monday, February 27th. Finally, Scotiabank raised their price objective on Royal Bank of Canada from C$102.00 to C$104.00 and gave the company an “outperform” rating in a research note on Monday, February 27th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of C$94.23.

TRADEMARK VIOLATION NOTICE: This report was published by American Banking News and is the sole property of of American Banking News. If you are viewing this report on another publication, it was stolen and reposted in violation of U.S. and international trademark and copyright legislation. The legal version of this report can be read at https://www.americanbankingnews.com/2017/05/25/royal-bank-of-canada-ry-announces-0-87-quarterly-dividend.html.

About Royal Bank of Canada

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.

12 Month Chart for TSE:RY

Receive News & Ratings for Royal Bank of Canada Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Royal Bank of Canada and related companies with MarketBeat.com's FREE daily email newsletter.