RBC hikes dividend after earnings beat

|By:, SA News Editor

FQ1 (ending Jan. 31) net income ex-item of $3B up 7% Y/Y, with EPS of $2.01 up 10%. Said item is a tax-bill related $178M or $0.12 per share writedown of deferred tax assets.

CET1 ratio of 11%, with an ROE of 17.4% up 70bps Y/Y.

Quarterly dividend raised 3%.

Personal & Commercial Banking net income of $1.5B up 10% Y/Y, excluding last year's gain on sale of the U.S. operations of Moneris.

Capital markets net income of $748M, up 13% Y/Y, and Wealth Management net income of $167M up 39% Y/Y.

Previously: Royal Bank of Canada beats by $0.02, beats on revenue (Feb. 23)

RY shares trading flat after the open