RBC reports $4.13B Q4 profit, up from $3.88B a year ago, and raises dividend
By The Canadian Press on November 30, 2023.
TORONTO – Royal Bank of Canada reported a fourth-quarter profit of $4.13 billion, up from $3.88 billion a year earlier, and raised its dividend. The bank says it will now pay a quarterly dividend of $1.38 per share, up three cents from $1.35. The increased payment to shareholders came as RBC reported its profit amounted to $2.90 per diluted share for the quarter ended Oct. 31, up from $2.74 per diluted share a year earlier. Revenue totalled $13.03 billion in the bank’s most recent quarter, up from $12.57 billion in the same quarter last year, while the bank’s provision for credit losses rose to $720 million, up from $381 million a year earlier. On an adjusted basis, RBC earned $2.78 per diluted share in its latest quarter, unchanged from the same quarter last year. Analysts on average had expected an adjusted profit of $2.62 per share, according to estimates compiled by financial markets data firm Refinitiv. This report by The Canadian Press was first published Nov. 30, 2023. Companies in this story: (TSX:RY) 9-8
