TORONTO, Nov. 30,
2022 /CNW/ - Royal Bank of Canada (the "Bank") (TSX: RY) (NYSE: RY)
announced today that its board of directors has declared an
increase to its quarterly common share dividend of four cents or three per cent, to $1.32 per share, payable on and after
February 24, 2023, to common
shareholders of record at the close of business on January 26, 2023.
In lieu of receiving their dividends in cash, holders of the
Bank's common and preferred shares who reside in Canada and holders of common shares who reside
in the United States may elect to
have their dividends reinvested in additional common shares of the
Bank, in accordance with the Bank's Dividend Reinvestment Plan (the
"Plan").
Under the Plan, the Bank is entitled to determine whether the
additional common shares are purchased in the secondary market by
the agent for the Plan or issued from treasury. For the
February 24, 2023 dividend and for
future dividends declared until further notice, the Bank has
decided to issue additional shares from treasury at a 2% discount
from the Average Market Price (as defined in the Plan). Most
recently, the common shares received by participants under the Plan
were purchased in the secondary market with no discount from the
Average Market Price.
Shareholders who currently participate in the Plan and who
continue to do so on the February 24,
2023 payment date will automatically have the discount
applied to the reinvestment of their dividends. Registered holders
of record residing in Canada or
the United States who wish to
participate in the Plan can obtain an enrollment form from the
Bank's Plan agent, Computershare Trust Company of Canada, from their website at
www.investorcentre.com/rbc, or by calling 1-866-586-7635. Eligible
beneficial or non-registered holders of the Bank's common and
preferred shares must contact their financial institution or broker
if they wish to participate in the Plan.
In order to participate in the Plan in time for the February 24, 2023 dividend payment date,
enrollment forms from registered holders must be received by
Computershare Trust Company of Canada at 100 University Avenue, 8th
Floor, Toronto, Ontario M5J 2Y1
before the close of business on January 26,
2023. All shareholders considering enrollment in the Plan
should carefully review the terms of the Plan and consult with
their advisors as to the implications of enrollment in the
Plan.
Registered participants in the Plan who would prefer to receive
a cash dividend rather than reinvest their dividends on and after
February 24, 2023 may terminate their
participation in the Plan by delivering written notice to
Computershare Trust Company of Canada at the above address by no later than
January 26, 2023. Beneficial or
non-registered participants in the Plan should contact their
financial institution or broker in advance of January 26, 2023 for instructions on how to
terminate participation in the Plan so that the February 24, 2023 dividend is not reinvested in
common shares.
The board also declared dividends for the following
Non-Cumulative First Preferred Shares, payable on and after
February 24, 2023, to shareholders of
record at the close of business on January
26, 2023.
•
|
Series
AZ
|
Dividend No. 36
of
|
$0.23125 per
share
|
•
|
Series
BB
|
Dividend No.
35 of
|
$0.228125 per
share
|
•
|
Series
BD
|
Dividend No.
32 of
|
$0.20 per
share
|
•
|
Series
BF
|
Dividend No.
31 of
|
$0.1875 per
share
|
•
|
Series
BH
|
Dividend No.
30 of
|
$0.30625 per
share
|
•
|
Series
BI
|
Dividend No.
30 of
|
$0.30625 per
share
|
•
|
Series
BO
|
Dividend No.
17 of
|
$0.30 per
share
|
The board also declared dividends for the following
Non-Cumulative First Preferred Shares.
- Series BT, Dividend No. 3 of $21.00 per share, payable on and after
February 24, 2023, to shareholders of
record on February 15, 2023.
- Series C-2, Dividend No. 29 of US$16.875 per share (equivalent to US$0.421875 per related depositary share),
payable on and after February 7,
2023, to shareholders of record on January 27, 2023.
SOURCE Royal Bank of Canada