
Royal Bank Q1 profit up 19 per cent CBC News \|\| March 06, 2006 Royal Bank continued the parade of earnings from Canada's big banks by reporting a 19 per cent increase in its first-quarter bottom line. Royal (TSX:RY) said before the opening of stock markets that it made a record profit of $1.17 billion ($1.78 per diluted share) in the first three months of its fiscal year. In the same period last year, the bank made $979 million ($1.50 per diluted share). In addition to announcing its first-quarter earnings, Royal reported an increase to its quarterly common share dividend of eight cents per share to 72 cents. The bank also said it is giving shareholders a stock dividend, which would effectively amount to a 2-for-1 stock split. The bank said its revenue from continuing operations came in at $4.98 billion, up from $4.77 billion year over year. Article Posted at www.KnowledgeDrivenRevolution.com "We are pleased with the strong earnings growth and [return on equity] of 23.9 per cent in the first quarter," said Gordon Nixon, Royal's president and CEO, in a statement. "The performance of our RBC Canadian personal and business segment was exceptional, with revenue up substantially and well in excess of expense growth. Nixon said the company's Canadian personal and business banking division produced revenue growth of 10 per cent, reaching a record $3.3 billion. Earnings at Royal's U.S. and international personal and business segment's continuing operations increased three per cent and revenue rose five per cent over a year ago. On the TSX on Friday, shares of Royal Bank hit a new 52-week high of $97.97 after gaining $3.07. About KDR \| \| Home \| \| Weekly Features Archive	Weekly Weekly Features Archive
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Royal Bank Q1 profit up 19 per cent

CBC News || March 06, 2006

Royal Bank continued the parade of earnings from Canada's big banks by reporting a 19 per cent increase in its first-quarter bottom line.

Royal (TSX:RY) said before the opening of stock markets that it made a record profit of $1.17 billion ($1.78 per diluted share) in the first three months of its fiscal year. In the same period last year, the bank made $979 million ($1.50 per diluted share).

In addition to announcing its first-quarter earnings, Royal reported an increase to its quarterly common share dividend of eight cents per share to 72 cents.

The bank also said it is giving shareholders a stock dividend, which would effectively amount to a 2-for-1 stock split.

The bank said its revenue from continuing operations came in at $4.98 billion, up from $4.77 billion year over year.

Article Posted at www.KnowledgeDrivenRevolution.com

"We are pleased with the strong earnings growth and [return on equity] of 23.9 per cent in the first quarter," said Gordon Nixon, Royal's president and CEO, in a statement.

"The performance of our RBC Canadian personal and business segment was exceptional, with revenue up substantially and well in excess of expense growth.

Nixon said the company's Canadian personal and business banking division produced revenue growth of 10 per cent, reaching a record $3.3 billion.

Earnings at Royal's U.S. and international personal and business segment's continuing operations increased three per cent and revenue rose five per cent over a year ago.

On the TSX on Friday, shares of Royal Bank hit a new 52-week high of $97.97 after gaining $3.07.

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