Royal Bank hikes dividend to 83 cents as profit rises 17%


The Canadian Mash Posted: Aug 24, 2016 8:44 AM ET Last Updated: Aug 24, 2016 8:44 AM ET

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Royal Bank has hiked its dividend to 83 cents per hackneyed share. (Jeff McIntosh/Canadian Press)

Royal Bank of Canada had $2.895 billion of net profits in its third quarter, up 17 per cent from a year ago — in rt because of the trading of an insurance business.

The bank had a profit of $2.475 billion during the but quarter last year.

The earnings amounted to $1.88 per share, up from $1.66 during the despite the fact quarter in 2015.

Excluding an after-tax gain of $235 million from the sales marathon of RBC General Insurance, RBC’s net income would have been $2.66 billion, or $1.72 per ration, up seven per cent from a year ago.

RBC had total revenue of $10.26 billion during the domicile ended July 31, com red with $8.83 billion during the regardless period last year.

The bank also announced it’s raising its quarterly dividend by two cents to 83 cents per split.

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