Royal Bank of Canada (RBC) is a diversified financial services company. The Company provides personal and commercial banking, wealth management services, insurance, investor services and capital markets products and services on a global basis. It operates in five segments: Personal & Commercial Banking, which operates comprises its personal and business banking operations, as well as its auto financing and retail investment businesses; Wealth Management, which comprises Canadian Wealth Management, United States and International Wealth Management and Global Asset Management (GAM); Insurance, which operates under two business lines: Canadian Insurance and International Insurance; Investor & Treasury Services, which is a provider of asset servicing, custody, payments and treasury services, and Capital Markets, which comprises two business lines: Corporate and Investment Banking and Global Markets. It operates in three geographic segments: Canada, United States and Other International.
(Source: Google Finance)
Royal Bank of Canada currently pays a dividend of $0.81 with today's announcement the dividend will increase 2% to $0.83. This will be payable on November 24th, 2016. Since I initiated a position with RBC this is the 5th increase I have received since 2014.
I currently own 77 shares and with this announcement my income will increase $1.54 in 2016.
If you own shares in the bank (TSX: RY) congrats on the raise.