RBC surprises with earnings boost

by Steve Randall24 Aug 2017
The first of Canada’s big banks to report quarterly earnings has beaten expectations.

a 5% annual increase in third-quarter earnings to $1.89 per share ($2.8 billion) and increased its quarterly dividend by 5% to 91 cents per share. There was little change on a quarter-over-quarter basis.

Thomson Reuters data shows that analysts had expected $1.87 per share.

I am also pleased to announce a 5% increase to our quarterly dividend as part of our commitment to deliver long-term shareholder value,” said Dave McKay, RBC President and Chief Executive Officer. “We are driving sustainable growth by further investing in our people, digital capabilities, and key markets, while leveraging our strengths in data and technology to exceed our clients’ expectations.”

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