Key Developments: Royal Bank of Canada (RY)
61.53USD
24 May 2013
$0.23 (+0.38%)
$61.30
$60.91
$61.75
$60.85
428,019
640,749
$64.08
$46.80
Latest Key Developments (Source: Significant Developments)
Royal Bank Of Canada And Other Banks Score Win In Private Libor Suits-Reuters
Reuters reported that A group of banks won a victory when a U.S. judge dismissed a substantial portion of the claims in private lawsuits accusing them of rigging global benchmark interest rates. The banks include Bank of America Corp, Citigroup Inc, Credit Suisse Group AG, Deutsche Bank AG, HSBC Holdings PLC, JPMorgan Chase & Co, Royal Bank of Canada, Royal Bank of Scotland and WestLB AG. They had been accused by a diverse body of private plaintiffs, ranging from bondholders to the city of Baltimore, of conspiring to manipulate the London Interbank Offered Rate (Libor). Full Article
Royal Bank Of Canada Declares Dividends
Royal Bank Of Canada announced an increase to its quarterly common share dividend of $0.03 per share, or 5%, to $0.63 per share, payable on and after May 24, 2013, to common shareholders of record at the close of business on April 25, 2013. The Company also announced dividends on the following Non-Cumulative First Preferred Shares, payable on and after May 24, 2013, to shareholders of record at the close of business on April 25, 2013. Series W, Dividend No. 33 of $0.30625 per share; Series AA, Dividend No. 29 of $0.278125 per share; Series AB, Dividend No. 27 of $0.29375 per share; Series AC, Dividend No. 26 of $0.2875 per share; Series AD, Dividend No. 25 of $0.28125 per share; Series AE, Dividend No. 25 of $0.28125 per share; Series AF, Dividend No. 24 of $0.278125 per share; Series AG, Dividend No. 24 of $0.28125 per share; Series AH, Dividend No. 20 of $0.353125 per share. Series AJ, Dividend No. 18 of $0.3125 per share; Series AL, Dividend No. 18 of $0.3500 per share; Series AN, Dividend No. 17 of $0.390625 per share; Series AP, Dividend No. 17 of $0.390625 per share; Series AR, Dividend No. 17 of $0.390625 per share; Series AT, Dividend No. 16 of $0.390625 per share; Series AV, Dividend No. 16 of $0.390625 per share; Series AX, Dividend No. 16 of $0.38125 per share. Full Article
Canada Competition Bureau Approves Royal Bank Of Canada Purchase Of Ally Financial Inc Unit-Reuters
Reuters reported that Canada's competition watchdog gave the green light on February 8, 2013 to Royal Bank of Canada's plans to buy the Canadian auto finance and deposit arm of Ally Financial Inc. Full Article
Royal Bank Of Canada Completes Acquisition Of Ally Financial Inc's Canadian Automotive Finance Business
Royal Bank Of Canada announced that it has completed the acquisition of the Canadian automotive finance and deposit business of Ally Financial Inc. (Ally Canada) for a $1.4 billion investment net of excess capital. Including the excess capital and after certain closing adjustments, the total consideration paid was $3.7 billion. The Ally Canada team joins the existing RBC team to form RBC Automotive Finance, a part of the Personal and Commercial Banking segment of RBC. It provides financial services, including floor plan financing, directly to auto dealers and also offers financing for consumers through dealerships. Full Article
Royal Bank Of Canada Reaffirms FY 2013 EPS Guidance-Conference Call
Royal Bank Of Canada announced that for fiscal 2013, it is maintaining the same mid-term objectives of diluted earnings per share growth of over 7%. The Company reported EPS of $5.25 in fiscal 2012. Full Article
Royal Bank Of Canada Issues Subordinated Debentures
Royal Bank Of Canada announced that the issuance of $2 billion of subordinated debentures ("the Notes") through its Canadian Medium Term Note Program. The Notes bear interest at a fixed rate of 2.99 % per annum (paid semi-annually) until December 6, 2019, and at the three-month Banker's Acceptance Rate plus 1.10% thereafter until their maturity on December 6, 2024 (paid quarterly). The issue is expected to close on December 6, 2012. The bank may, at its option, with the prior approval of the Office of the Superintendent of Financial Institutions Canada, redeem the Notes on or after December 6, 2019, in whole at any time or in part from time to time, on not less than 30 days and not more than 60 days notice to the registered holders. Proceeds of the issue will be added to the bank's general funds and will be utilized for general banking purposes. Full Article
Royal Bank Of Canada Declares Dividend
Royal Bank Of Canada announced quarterly common share dividend of 60 cents per share, payable on and after February 22, 2013, to common shareholders of record at the close of business on January 24, 2013. The Board also announced dividends on the following Non-Cumulative First Preferred Shares, payable on and after February 22, 2013, to shareholders of record at the close of business on January 24, 2013. Series W, Dividend No. 32 of $0.30625 per share. Series AA, Dividend No. 28 of $0.278125 per share. Series AB, Dividend No. 26 of $0.29375 per share. Series AC, Dividend No. 25 of $0.2875 per share. Series AD, Dividend No. 24 of $0.28125 per share. Series AE, Dividend No. 24 of $0.28125 per share. Series AF, Dividend No. 23 of $0.278125 per share. Series AG, Dividend No. 23 of $0.28125 per share. Series AH, Dividend No. 19 of $0.353125 per share. Series AJ, Dividend No. 17 of $0.3125 per share. Series AL, Dividend No. 17 of $0.3500 per share. Series AN, Dividend No. 16 of $0.390625 per share. Series AP, Dividend No. 16 of $0.390625 per share. Series AR, Dividend No. 16 of $0.390625 per share. Series AT, Dividend No. 15 of $0.390625 per share. Series AV, Dividend No. 15 of $0.390625 per share. Series AX, Dividend No. 15 of $0.38125 per share. Full Article
Royal Bank Of Canada Announces Changes To Business Segments
Royal Bank Of Canada announced changes to its business segments, effective October 31, 2012. RBC's business segments for financial reporting purposes will be Investor & Treasury Services; Personal & Commercial Banking; Capital Markets; Wealth Management; and Insurance. Investor & Treasury Services is a newly created business segment that will include RBC Investor Services, Global Financial Institutions and Treasury Services. It will bring together RBC capabilities key to serving the needs of institutional investing clients and will provide custodial, advisory, financing and other services for clients to safeguard assets, maximize liquidity and manage risk in multiple jurisdictions around the world. Doug McGregor and Mark Standish continue to be responsible for Capital Markets as co-group heads of this business segment. Wealth Management, which remains a business segment, will continue to include Canadian Wealth Management, U.S. and International Wealth Management and Global Asset Management. George Lewis, currently group head, Wealth Management, continues to have responsibility for this segment. Insurance will also remain a business segment and includes Canadian Insurance and International and Other Insurance. Neil Skelding will continue as president and chief executive officer of RBC Insurance and report to George Lewis. The transition of management responsibilities are expected to be completed by October 31, 2012. Full Article
Royal Bank Of Canada Declares Dividends
Royal Bank Of Canada announced an increase to its quarterly common share dividend of three cents per share, or 5%, to 60 cents, payable on and after November 23, 2012, to common shareholders of record at the close of business on October 25, 2012. The Board also announced dividends on the following Non-Cumulative First Preferred Shares, payable on and after November 23, 2012, to shareholders of record at the close of business on October 25, 2012. Series W, Dividend No. 31 of $0.30625 per share. Series AA, Dividend No. 27 of $0.278125 per share. Series AB, Dividend No. 25 of $0.29375 per share. Series AC, Dividend No. 24 of $0.2875 per share. Series AD, Dividend No. 23 of $0.28125 per share. Series AE, Dividend No. 23 of $0.28125 per share. Series AF, Dividend No. 22 of $0.278125 per share. Series AG, Dividend No. 22 of $0.28125 per share. Series AH, Dividend No. 18 of $0.353125 per share. Series AJ, Dividend No. 16 of $0.3125 per share. Series AL, Dividend No. 16 of $0.3500 per share. Series AN, Dividend No. 15 of $0.390625 per share. Series AP, Dividend No. 15 of $0.390625 per share. Series AR, Dividend No. 15 of $0.390625 per share. Series AT, Dividend No. 14 of $0.390625 per share. Series AV, Dividend No. 14 of $0.390625 per share. Series AX, Dividend No. 14 of $0.38125 per share. Full Article
Royal Bank of Canada Completes Acquisition Of Global Investor Services Business
Royal Bank of Canada (RBC) announced that it has completed the acquisition of the 50% stake of RBC Dexia Investor Services Limited (RBC Dexia) that RBC did not already own from Banque Internationale à Luxembourg S.A. (BIL). With this transaction, RBC becomes the sole owner of the top 10 global custodian, which is being rebranded RBC Investor Services. Full Article
MOVES-U.S. Bancorp, RBC, Lloyds, FINRA
April 30 - The following financial services industry appointments were announced on Tuesday. To inform us of other job changes, email to moves@thomsonreuters.com.
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