TORONTO, May 25, 2023
/CNW/ - Royal Bank of Canada
(TSX: RY) (NYSE: RY) announced today that its board of directors
has declared an increase to its quarterly common share dividend of
three cents or two per cent, to
$1.35 per share, payable on and after
August 24, 2023, to common
shareholders of record at the close of business on July 26, 2023.
The board also declared dividends for the following
Non-Cumulative First Preferred Shares, payable on and after
August 24, 2023, to shareholders of
record at the close of business on July 26,
2023.
- Series AZ Dividend No. 38 of $0.23125 per share.
- Series BB Dividend No. 37 of $0.228125 per share.
- Series BD Dividend No. 34 of $0.20 per share.
- Series BF Dividend No. 33 of $0.1875 per share.
- Series BH Dividend No. 32 of $0.30625 per share.
- Series BI Dividend No. 32 of $0.30625 per share.
- Series BO Dividend No. 19 of $0.30 per share.
The board also declared dividends for the following
Non-Cumulative First Preferred Shares.
- Series BT, Dividend No. 4 of $21.00 per share, payable on and after
August 24, 2023, to shareholders of
record on August 17, 2023.
- Series C-2, Dividend No. 31 of US$16.875 per share (equivalent to US$0.421875 per related depositary share),
payable on and after August 8, 2023,
to shareholders of record on July 28,
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. As previously
announced and 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).
Shareholders who currently participate in the Plan and who
continue to do so on the August 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 August 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 July 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
August 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
July 26, 2023. Beneficial or
non-registered participants in the Plan should contact their
financial institution or broker in advance of July 26, 2023 for instructions on how to
terminate participation in the Plan so that the August 24, 2023 dividend is not reinvested in
common shares.
SOURCE Royal Bank of Canada