TORONTO, Feb. 28,
2024 /CNW/ - Royal Bank of Canada (TSX: RY) (NYSE: RY) announced today
that its board of directors has declared a quarterly common share
dividend of $1.38 per share, payable
on and after May 24, 2024, to common
shareholders of record at the close of business on April 25, 2024.
The board also declared dividends for the following
Non-Cumulative First Preferred Shares, payable on and after
May 24, 2024, to shareholders of
record at the close of business on April 25,
2024.
- Series AZ Dividend No. 41 of $0.23125 per share.
- Series BB Dividend No. 40 of $0.228125 per share.
- Series BD Dividend No. 37 of $0.20 per share.
- Series BF Dividend No. 36 of $0.1875 per share.
- Series BH Dividend No. 35 of $0.30625 per share.
- Series BI Dividend No. 35 of $0.30625 per share.
- Series BO Dividend No. 22 of $0.3678125 per share.
In lieu of receiving their dividends in cash, holders of the
Bank's common and preferred shares who reside in Canada and holders of common shares who reside
in the United States may elect to
have their dividends reinvested in additional common shares of the
Bank, in accordance with the Bank's Dividend Reinvestment Plan (the
"Plan").
Under the Plan, the Bank is entitled to determine whether the
additional common shares are purchased in the secondary market by
the agent for the Plan or issued from treasury. For the
May 24, 2024 dividend and for future
dividends declared until further notice, the Bank has decided to
purchase common shares in the secondary market with no discount
from the Average Market Price (as defined in the Plan). Most
recently, the common shares received by participants under the Plan
were issued from treasury at a 2% discount from the Average Market
Price.
Registered holders of record residing
in Canada or the United States who wish to
participate in the Plan can obtain an enrollment form from the
Bank's Plan agent, Computershare Trust Company of Canada, from
their website at www.investorcentre.com/rbc, or by calling
1-866-586-7635. Eligible beneficial or non-registered holders of
the Bank's common and preferred shares must contact their financial
institution or broker if they wish to participate in the Plan.
In order to participate in the Plan in time for the May 24,
2024 dividend payment date, enrollment forms from registered
holders must be received by Computershare Trust Company
of Canada at 100 University Avenue, 8th
Floor, Toronto, Ontario M5J 2Y1 before the close of
business on April 25, 2024. All shareholders considering
enrollment in the Plan should carefully review the terms of the
Plan and consult with their advisors as to the implications of
enrollment in the Plan.
Registered participants in the Plan who would prefer to receive
a cash dividend rather than reinvest their dividends on and
after May 24, 2024 may terminate their participation in
the Plan by delivering written notice to Computershare Trust
Company of Canada at the above
address by no later than April 25,
2024. Beneficial or non-registered participants in the Plan
should contact their financial institution or broker in advance of
April 25, 2024 for instructions on
how to terminate participation in the Plan so that the May 24, 2024 dividend is not reinvested in common
shares.
SOURCE Royal Bank of Canada