Trailing Dividend / Share
$6.24
Royal Bank of Canada (RY) Dividend History
Income profile from 1989 to 2026 with payout safety and yield-on-cost trend
Dividend Yield
2.2%
Payout Ratio
43.2%
Sustainable
Dividend Streak
10 years
RY Dividend Income Check
Safety
43.2% payout ratio with sustainable safety profile.
Consistency
10 straight years of dividend increases.
Income Trend
Yield on cost is 5.3% and trend is rising.
RY Dividend Scorecard
Yield & Income
Dividend Yield2.2%
Trailing DPS$6.24
FrequencyQuarterly
Payments / 12M5
Payout Safety
Earnings Payout43.2%
Earnings SafetySustainable
FCF Payout20.7%
FCF SafetyWell Covered
Piotroski F-Score6/9
Growth
Growth Streak10 years
3Y CAGR4.1%
5Y CAGR6.3%
Yield on Cost (5Y)5.3%
YOC Trendrising
Total Returns
Buyback Yield3.4%
Total Shareholder Yield5.6%
1Y Total Return61.0%
5Y Total Return119.1%
Div Contribution (5Y)20.1%
Estimated $10K growth (return + dividends):
5Y ago$21,91210Y ago$38,83620Y ago$64,921
Uses precomputed total return metrics from screening data (not lot-by-lot dividend reinvestment transactions). Different time windows can produce different outcomes depending on market regime and entry point.
RY Income Growth Story
Dividend per share and yield on cost over time (38 years of payments)
RY Dividend Safety Story
EPS is the container — dividend is what's drawn out
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Dividend Analysis
Payout Safety
Royal Bank of Canada distributes 43.2% of earnings as dividends (Sustainable). When measured against free cash flow—a stricter test—the payout ratio stands at 20.7%, rated "Well Covered".
Piotroski F-Score: 6/9 — moderate financial health.
Growth Track Record
RY has raised its dividend for 10 consecutive years, with a 3-year CAGR of 4.1% and 5-year CAGR of 6.3%.
Total Shareholder Returns
Beyond cash dividends, RY returns capital through share repurchases. The combined picture: 2.2% dividend yield, 3.4% buyback yield, 5.6% total shareholder yield.
Income Trend & Total Return
Yield on cost (5-year basis) has reached 5.3% and is currently rising. The 5-year total return is 119.1%, with dividends contributing 20.1% of that performance.
DRIP Growth
A $10,000 investment made 10 years ago with dividends reinvested would have grown to approximately $38,836 today.
RY Recent Dividend Payments
Last 20 payments · Quarterly
TTM Total$20.71
Avg/Payment$1.0355
Latest Change+4.1%
| Ex-Date | Amount | Change | Yield % | Payment Date |
|---|---|---|---|---|
| Jul 27, 2026Latest | $1.2473 | ↑ +4.1% | 2.35% | Aug 24, 2026 |
| Apr 23, 2026 | $1.1986 | ↓ -0.0% | 2.64% | May 22, 2026 |
| Jan 26, 2026 | $1.1988 | ↑ +9.0% | 2.69% | Feb 24, 2026 |
| Oct 27, 2025 | $1.1002 | ↓ -2.5% | 2.92% | Nov 24, 2025 |
| Jul 24, 2025 | $1.1286 | ↑ +5.9% | 3.22% | Aug 22, 2025 |
| Apr 24, 2025 | $1.0655 | ↑ +3.5% | 3.52% | May 23, 2025 |
| Jan 27, 2025 | $1.0295 | ↑ +0.5% | 3.33% | Feb 24, 2025 |
| Oct 24, 2024 | $1.0248 | ↓ -0.2% | 3.30% | Nov 22, 2024 |
RY Dividend vs Peers
Comparable companies in the same industry
#6 yield in peer group
Div Yield
2.2%
#6 of 9
Safety
Sustainable
43.2% payout
Streak
10Y
6.3% 5Y CAGR
Total Shareholder
5.6%
#5 of 9
| Company | Mkt Cap | Yield | Payout | Streak | Safety |
|---|---|---|---|---|---|
| RYRoyal Bank of Canada | $281.5B | 2.2% | 43.2% | 10 | Sustainable |
 TDThe Toronto-Dominion… | $201.5B | 2.6% | 37.3% | 10 | Sustainable |
2nd  BMOBank of Montreal | $119.6B | 2.9% | 57.8% | 5 | Sustainable |
1st  BNSThe Bank of Nova Sco… | $106.7B | 3.5% | 68.9% | 1 | Watch |
3rd  CMCanadian Imperial Ba… | $103.5B | 2.7% | 47.4% | 10 | Sustainable |
 JPMJPMorgan Chase & Co. | $908.6B | 1.8% | 29.1% | 15 | Sustainable |
 BACBank of America Corp… | $424.1B | 2.3% | 31.3% | 12 | Sustainable |
 WFCWells Fargo & Compan… | $264.5B | 2.1% | 25.5% | 4 | Sustainable |
 GSThe Goldman Sachs Gr… | $348.3B | 1.5% | 30.7% | 14 | Sustainable |
RY Annual Dividend History (1989–2026)
38 years of dividend data
GrowthDecline
| Year | DPS | YoY | Pmts | EPS | Payout | Coverage | YOC |
|---|---|---|---|---|---|---|---|
| 2026YTD | $3.64 | — | 3 | — | — | — | 4.5% |
| 2025 | $4.32 | 6.0% | 4 | $14.09 | 30.7% | 3.26x | 5.3% |
| 2024 | $4.08 | 2.9% | 4 | $11.23 | 36.3% | 2.75x | 5.0% |
| 2023 | $3.96 | 3.5% | 4 | $10.32 | 38.4% | 2.60x | 4.8% |
| 2022 | $3.83 | 11.2% | 4 | $11.06 | 34.6% | 2.89x | 4.7% |
| 2021 | $3.44 | 7.9% | 4 | $11.06 | 31.1% | 3.21x | 4.2% |
| 2020 | $3.19 | 3.9% | 4 | $7.82 | 40.8% | 2.45x | 3.9% |
| 2019 | $3.07 | 4.4% | 4 | $8.75 | 35.1% | 2.85x | 3.7% |
| 2018 | $2.94 | 9.6% | 4 | $8.36 | 35.2% | 2.84x | 3.6% |
| 2017 | $2.68 | 10.3% | 4 | $7.56 | 35.5% | 2.82x | 3.3% |
Consensus-Based Analysis Tools
Full Stock Analysis
Deep dive into RY consensus models and risk factors.
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Should I Buy RY?
Wall Street verdict, signals, and target summaries.
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Intrinsic Valuation
DCF models, multiple analysis, and analyst estimates.
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Historical Returns
37+ years return with dividends reinvested.
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DCA Calculator
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Peer Comparison
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RY — Frequently Asked Questions
Quick answers to the most common questions about buying RY stock.
How much dividend does RY pay per share?
Royal Bank of Canada (RY) pays a trailing 12-month dividend of $6.24 per share, with a current dividend yield of +2.2%. Payments are made Quarterly.
When is RY's next ex-dividend date?
RY's most recent ex-dividend date is N/A. You must own shares before the ex-dividend date to receive the next payment. RY typically pays dividends Quarterly.
Is RY's dividend safe?
RY's dividend safety is rated "Sustainable" based on an earnings payout ratio of +43.2% and FCF payout ratio of +20.7%. The 10-year growth streak provides moderate confidence.
Is RY a Dividend Achiever?
Yes, Royal Bank of Canada is classified as a Dividend Achiever with 10 consecutive years of dividend increases. The 5-year dividend CAGR is +6.3%, demonstrating above-inflation dividend growth.
How often does RY pay dividends?
Royal Bank of Canada pays dividends Quarterly. The trailing 12-month total is $6.24 per share. Dividend data on this page covers 37+ years from 1989 to 2026.
How much would $10,000 invested in RY grow with dividend reinvestment?
With dividends reinvested (DRIP), $10,000 invested in RY five years ago would be worth approximately $21,912 today. This includes both price appreciation and compounded dividend reinvestment. Use the DRIP calculator above for other time periods.
What is RY's yield on cost for long-term holders?
RY's yield on cost — the current dividend divided by the original purchase price — is +5.3% for a 5-year holding period. This means long-term holders earn a higher effective yield than today's +2.2% market yield, thanks to consistent dividend growth.