(Toronto) The Royal Bank of Canada made a profit of 4.13 billion in the fourth quarter of the current fiscal year compared to that of 3.88 billion reported a year earlier.
Separately, the bank announced Thursday that it will now pay a quarterly dividend of $1.38 per share, up $0.03 from $1.35.
The increased payout to shareholders comes as RBC reported earnings of $2.90 per diluted share for the quarter ended Oct. 31, up from $2.74 per diluted share a year earlier.
Royal Bank’s revenues totaled 13.03 billion in the latest quarter, up from 12.57 billion in the same quarter of 2022, while the bank’s provision for credit losses reached 720 million, up from 381 million a year ago earlier.
On an adjusted basis, RBC earned $2.78 per diluted share in its most recent quarter, unchanged from the same quarter last year.
Analysts on average had expected adjusted earnings of $2.62 per share, according to estimates compiled by financial markets data firm Refinitiv.
Company cited in this report: Royal Bank of Canada (TSX: RY)
