Topic: How To Invest

Dividend Advisor Hotline – Friday, April 8, 2022

Article Excerpt

ROYAL BANK OF CANADA, $136.66, Toronto symbol RY, is a buy. Royal raised your quarterly dividend by 11.1% with the February 2022 payment. Investors now receive $1.20 a share instead of $1.08. The new annual rate of $4.80 yields 3.5%. The bank also plans to repurchase roughly 3.16% of its common shares over the next year. The bank has now agreed to buy U.K.-based wealth management firm Brewin Dolphin Holdings Plc. Its assets under management totalled 59 billion British pounds (roughly $101 billion Canadian) as of December 31, 2021. Royal will pay $2.6 billion for Brewin Dolphin. To put that in context, the bank earned $4.1 billion, or $2.84 a share, in the three months ended January 31, 2022. If Brewin Dolphin shareholders and regulators approve, Royal expects to complete the purchase by September 30, 2022. The acquisition will make Royal the third-largest wealth management firm in the U.K. and Ireland, with assets under management of 64 billion British pounds and annual revenue of…