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Data last updated: Aug 18, 2026
Snapshot (as of Aug 18, 2026): Royal Bank of Canada (RY.TO) pays a $6.58 annual dividend ($1.76 quarterly), yielding 2.24% at $294.18/share. Next ex-dividend date 2026-07-27. 19 consecutive years of dividend growth. Source: Yahoo Finance, aggregated by MerryDiv.
Dividend Yield: 2.24%
Annual Dividend: $6.58 per share
Payout Ratio: 41.6%
Ex-Dividend Date: 2026-07-27
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. The current yield sits at 2.24%, with a trailing annual dividend rate of $6.58 per share paid quarterly. The next ex-dividend date is July 27, 2026, and the last dividend paid was $1.76 per share. With a beta of 0.932, RY.TO 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 41.6% of earnings as dividends, a payout ratio classified as moderate (40–60%). That level leaves meaningful room to absorb earnings pressure without threatening the dividend, and RY.TO's business spans multiple revenue streams including retail deposits, private banking, wealth management for high-net-worth clients, and capital markets activity. Royal Bank of Canada dividend safety is further supported by the breadth of that business mix, which spans both fee-based and interest-based income. The most significant data-supported pressure point is the bank's exposure to interest rate cycles, which directly affect net interest margins across its Personal and Commercial Banking operations.
Royal Bank of Canada dividend history shows a CAGR of 7.9% per year from 2011 to 2025. Per-share payments grew from $2.08 to $6.04 over that period (2026 data is partial and excluded from the growth calculation). The smallest annual increase in the window was 0.7% in 2021, while the largest was 14.8% in 2022, showing that growth has not been uniform year to year.
| Period | CAGR | From | To |
|---|---|---|---|
| 3-Year | +6.8% | $4.96 (2022) | $6.04 (2025) |
| 5-Year | +7.1% | $4.29 (2020) | $6.04 (2025) |
| 10-Year | +7.0% | $3.08 (2015) | $6.04 (2025) |
Royal Bank of Canada fits dividend investors who want a moderate-yielding bank stock with a long history of annual increases. The current yield of 2.24% sits above the 5-year average of 1.78%, which means the stock is offering more income relative to its own recent norm. The yield classification is moderate (2–4%), and the 41.6% payout ratio leaves room for continued growth. Nineteen consecutive years of dividend increases and a 7.9% CAGR over 14 years are the defining characteristics here. The trade-off is that the yield is not high enough to anchor a pure income portfolio, but the growth rate has meaningfully compounded the per-share payout over time.
| Payment Date | Amount per Share |
|---|---|
| 2026-07-27 | $1.7600 |
| 2026-04-23 | $1.6400 |
| 2026-01-26 | $1.6400 |
| 2025-10-27 | $1.5400 |
| 2025-07-24 | $1.5400 |
| 2025-04-24 | $1.4800 |
| 2025-01-27 | $1.4800 |
| 2024-10-24 | $1.4200 |
| 2024-07-25 | $1.4200 |
| 2024-04-24 | $1.3800 |
| Year | Total Dividends |
|---|---|
| 2026 | $5.0400 |
| 2025 | $6.0400 |
| 2024 | $5.6000 |
| 2023 | $5.3400 |
| 2022 | $4.9600 |
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