TORONTO – Royal Bank of Canada raised its quarterly dividend as it reported its second-quarter profit rose 25 per cent compared with a year earlier.
The bank said Thursday it will now pay a quarterly dividend of $1.76 per share, an increase from $1.64 per share.
The increased payment to shareholders came as RBC says it earned $5.51 billion or $3.85 per diluted share for the quarter ended April 30, up from a profit of $4.39 billion or $3.02 per diluted share a year earlier.
Revenue totalled $17.45 billion for the quarter, up from $15.67 billion in the same quarter last year, while the bank’s provision for credit losses amounted to $912 million, down from $1.42 billion a year ago.
On an adjusted basis, RBC says it earned $3.90 per diluted share in its latest quarter, up from an adjusted profit of $3.12 per diluted share in the same quarter last year.
Analysts on average had expected an adjusted profit of $3.78 per share, according to LSEG Data & Analytics.
“Our second-quarter earnings showcase our consistency in delivering premium profitability and long-term shareholder value, underpinned by solid growth across our diversified businesses and balance sheet strength,” RBC chief executive Dave McKay said in a statement.
RBC said its personal banking group earned $1.87 billion, up from $1.60 billion in the same quarter last year helped by higher net interest income and lower provisions for credit losses as well as higher fee-based client assets.
The bank’s commercial banking operations earned $854 million in the quarter, up from $597 million a year earlier, while its wealth management business earned $1.19 billion, up from $929 million in the same quarter last year.
RBC’s insurance business earned $218 million, up from $211 million a year ago, and its capital markets business earned $1.48 billion, up from $1.20 billion a year earlier.
This report by The Canadian Press was first published May 28, 2026.
Companies in this story: (TSX:RY)
