(Toronto) The Royal Bank of Canada (RBC) increased its dividend after announcing a profit of 4.22 billion in the fourth quarter, up from 3.94 billion in the same quarter last year.
Posted at 7:31 a.m.
The bank said it will now pay a quarterly dividend of $1.48 per share, up from $1.42 per share.
The increased payment to shareholders comes as RBC said it earned $2.91 per share for the quarter ended Oct. 31, up from a profit of $2.76 per share in the same quarter last year. last.
Its revenues totaled 15.07 billion, an increase from 12.69 billion a year ago. Its provision for credit losses amounted to 840 million, up from 720 million in the same quarter last year.
On an adjusted basis, RBC said it earned $3.07 per share in its latest quarter, compared to adjusted earnings of $2.65 per share a year earlier.
The average analyst estimate was for adjusted earnings of $3.01 per share, according to data provided by LSEG Data & Analytics.
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