RBC Profit Rises 4%; Dividend Lifted as Canada Earnings Grow
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Royal Bank of Canada, the country’s largest lender, lifted its dividend after reporting a 4 percent gain in fiscal third-quarter profit on record earnings from domestic banking.
Net income for the period ended July 31 rose to C$2.48 billion ($1.86 billion), or C$1.66 a share, from C$2.38 billion, or C$1.59, a year earlier, the Toronto-based company said Wednesday in a statement. Adjusted profit, which excludes some items, was C$1.68 a share, beating the C$1.67 average estimate of 14 analysts surveyed by Bloomberg. Royal Bank boosted its dividend 2.6 percent to 79 cents.