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Data last updated: Oct 04, 2026
Snapshot (as of Oct 04, 2026): Royal Bank of Canada (RY) pays a $6.58 annual dividend ($1.27 quarterly), yielding 2.36% at $195.67/share. Next ex-dividend date 2026-10-26. 10 consecutive years of dividend growth. Source: Yahoo Finance, aggregated by MerryDiv.
Dividend Yield: 2.36%
Annual Dividend: $6.58 per share
Payout Ratio: 41.5%
Ex-Dividend Date: 2026-10-26
Dividend Frequency: quarterly
Sector: Financial Services
Years of Dividend History: 38
Royal Bank of Canada dividend investors are looking at one of Canada's largest and most diversified financial institutions, spanning personal banking, wealth management, insurance, and capital markets. RY currently pays $6.58 per share annually, distributed quarterly, with the next ex-dividend date on October 26, 2026. The current yield sits at 2.26%. With a beta of 0.915, RY stock moves slightly less than the broader market, making it a fit for income investors who prioritize lower volatility over maximum yield.
Royal Bank of Canada pays out 41.5% of earnings as dividends, a payout ratio classified as moderate (40–60%). That level leaves meaningful room to absorb earnings pressure without forcing a cut, and RBC's diversified revenue base across personal banking, wealth management, and insurance spans multiple income streams. Royal Bank of Canada dividend safety gets its clearest test in credit cycles, where loan losses in the Personal and Commercial Banking segment can compress earnings and tighten that cushion. The 41.5% ratio provides a buffer, but it is not unlimited.
Royal Bank of Canada dividend history shows a CAGR of 5.2% per year from 2011 to 2025. Per-share payments grew from $2.1348 to $4.3238 over that period (2026 figures are partial and excluded from this calculation). The largest annual increase in the window was 11.2% in 2022. The data also contains at least one year-over-year decline exceeding 5%, which means growth has not been perfectly linear across the full window.
| Period | CAGR | From | To |
|---|---|---|---|
| 3-Year | +4.1% | $3.83 (2022) | $4.32 (2025) |
| 5-Year | +6.3% | $3.19 (2020) | $4.32 (2025) |
| 10-Year | +5.9% | $2.43 (2015) | $4.32 (2025) |
RY fits dividend investors who want moderate, growing income from a large, diversified financial institution rather than a high-yield payout. The current yield of 2.26% falls in the moderate (2–4%) range and sits above the 5-year average of 1.86%, meaning today's entry point offers more income than the historical norm. Growth has averaged 5.2% per year, which is meaningful but not aggressive. The trade-off is clear: RY stock delivers a growing, well-covered dividend backed by a 41.5% payout ratio, but investors accept a yield that will not satisfy those seeking maximum current income.
| Payment Date | Amount per Share |
|---|---|
| 2026-10-26 | $1.2718 |
| 2026-07-27 | $1.2472 |
| 2026-04-23 | $1.1986 |
| 2026-01-26 | $1.1988 |
| 2025-10-27 | $1.1002 |
| 2025-07-24 | $1.1286 |
| 2025-04-24 | $1.0655 |
| 2025-01-27 | $1.0295 |
| 2024-10-24 | $1.0248 |
| 2024-07-25 | $1.0267 |
| Year | Total Dividends |
|---|---|
| 2026 | $4.9164 |
| 2025 | $4.3238 |
| 2024 | $4.0784 |
| 2023 | $3.9628 |
| 2022 | $3.8286 |
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