Royal Bank of Canada (TSE:RY) has announced a quarterly dividend of $1.76 per share, payable on Tuesday, November 24th. Shareholders of record on that same day will receive the payout, which translates to an annualized dividend of $7.04 and a yield of 2.5%. The ex-dividend date for this dividend is Monday, October 26th.
The bank's stock (TSE:RY) closed at C$281.77 on Friday, down C$1.01 for the day. Trading volume reached 2,975,619 shares, slightly below its average of 3,461,987. The stock has a 50-day moving average of C$283.33 and a 200-day average of C$276.08. Over the past year, RY has ranged from a low of C$201.76 to a high of C$306.38.
Royal Bank of Canada reported earnings of C$4.28 per share for the most recent quarter, with revenue of C$18.54 billion. The company boasts a market cap of C$390.09 billion, a price-to-earnings ratio of 17.77, and a PEG ratio of 3.42. Analysts expect the bank to post earnings of C$12.35 per share for the current year.
Recent research reports have offered mixed outlooks. Barclays raised its target price to C$300.00, while Canaccord Genuity Group set a target of C$318.00 with a "buy" rating. Raymond James Financial increased its target to C$306.00 but maintained a "market perform" rating. Overall, analysts give RY a "Moderate Buy" consensus rating with an average price target of C$292.86.