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Updated: Wed, 26 Feb 2014 07:16:07 GMT | By The Canadian Press, cbc.ca

Royal Bank raises dividend 6%, 1st-quarter profit up 2%



Royal Bank raises dividend 6%, 1st-quarter profit up 2%

Royal Bank of Canada says its first-quarter net income was $2.09 billion, up $45 million or two per cent from a year earlier.

The bank also announced its quarterly dividend will increase by six per cent to 71 cents per common share.

Royal is the third of Canada's big banks to report improved net income for the three months ended Jan. 31.

In RBC's case, it earned $1.38 per common share under standard accounting, up four cents from $1.34 per share a year earlier.

Excluding some items, RBC's adjusted diluted earnings per share was $1.47, which was above the general analyst estimate.

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