TORONTO — Royal Bank of Canada raised its dividend as it reported its second-quarter profit rose compared with a year ago, helped by record earnings in its capital markets business. The bank said Thursday it will now pay a quarterly dividend of $1.
TORONTO — Royal Bank of Canada raised its dividend as it reported its second-quarter profit rose compared with a year ago, helped by record earnings in its capital markets business.
The moves came as RBC said it earned $3.95 billion or $2.74 per diluted share for the quarter ended April 30, up from $3.68 billion or $2.60 per diluted share a year earlier. On an adjusted basis, RBC said it earned $2.92 per diluted share, up from an adjusted profit of $2.68 per diluted share a year earlier.During the quarter, RBC completed its acquisition of HSBC Bank Canada.
RBC said its personal and commercial banking business earned $2.05 billion, up from $1.92 billion in the same quarter last year, while its wealth management business earned $769 million, up from $719 million a year ago.
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