Net income of $3,263 million for the quarter ended July 31, 2019, up $154 million or 5% from the prior year.
Solid diluted EPS growth of 6%.
Strong earnings growth in Personal & Commercial Banking, Wealth Management and Insurance.
Lower earnings in Capital Markets and Investor & Treasury Services amidst challenging market conditions.
Net income was up $33 million with higher earnings in Personal & Commercial Banking, Wealth Management and Insurance, largely offset by lower earnings in Capital Markets and Investor & Treasury Services.
In addition, today we announced an increase to our quarterly dividend of $0.03 or 3% to $1.05 per share.
21/08/2019 - Royal Bank of Canada announced today that its board of directors has declared an increase to its quarterly common share dividend of three cents, or three per cent, to $1.05 per share, payable on and after November 22, 2019, to common shareholders of record at the close of business on October 24, 2019.
Net income of $12,871 million for the year ended October 31, 2019, up $440 million or 4% from the prior year.
Diluted EPS growth of 5%.
Results reflected strong earnings growth in Personal & Commercial Banking and Wealth Management as we continued to leverage our scale and unique client value proposition to drive strong client-driven volumes.
Solid results in Insurance were mainly driven by the impact of new longevity reinsurance contracts.
We increased our quarterly dividend twice during 2019, for an annual dividend increase of 8%.
In 2019, we repurchased 10.3 million shares for $1 billion.