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RBC earnings: A look at the bank’s Q2 financials
– moneysense.ca
The bank said Thursday it will now pay a quarterly dividend of $1.42 per share, an increase of four cents. It also said it plans to buy back up to 30 million of its shares.
The moves came as RBC said it earned $3.95 billion or $2.74 per diluted share for the quarter ended April 30, up from $3.68 billion or $2.60 per diluted share a year earlier, helped in part by record capital markets revenue.
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“This quarter, we saw strong growth across diversified revenue streams,” said chief executive Dave McKay on an earnings call.
He said the bank’s capital generation means it has options ahead for growth, including potential acquisitions, even as the bank returns more money to shareholders.
“This enormous capital that we are generating gives us significant strategic flexibility inorganically…
Making sense of the markets this week: June 2, 2024
– moneysense.ca
Kyle Prevost, creator of 4 Steps to a Worry-Free Retirement, Canada’s DIY retirement planning course, shares financial headlines and offers context for Canadian investors.
RBC and National Bank continue to lead the pack
Canadian banks continue to prepare for worst-case scenarios with increased credit loss provisions.
Canadian bank earnings highlights
Here’s how Canadian banks performed in the three months ending April 30, 2024:
BMO Financial Group (BMO/TSX): Adjusted earnings per share of $2.59 (versus $2.77 estimated by analysts) and revenues of $7.97 billion (versus $8.06 billion estimated).
Scotiabank (BNS/TSX): Adjusted earnings per share of $1.58 (versus $1.56 estimated) and revenues of $8.35 billion (versus $8.33 billion estimated).
RBC (RY/TSX): Adjusted earnings per share of $2.92 (versus $2.74 estimated) and revenue of $14.15 billion (versus $13.60 billion estimated).
TD (TD/TSX): Adjusted earnings per share of $2.04 (versus $1.85 estimated) and revenue of $13…
