OTTAWA (dpa-AFX) - Royal Bank of Canada (RY, RY.TO) announced Thursday,
along with its positive second-quarter results, its plan to repurchase up to 30
million of its common shares, as well as a hike in dividend.

In pre-market activity on the NYSE, Royal Bank shares were gaining around 6
percent to trade at $109.

The company said it plans to repurchase up to 30 million of its common shares
for cancellation, subject to the approval of the Toronto Stock Exchange and the
Office of the Superintendent of Financial Institutions.

The Bank intends to file a notice of intention with the TSX in this regard.

The proposed buyback of shares represent around 2.12 percent of the Bank's
outstanding shares of 1.41 billion as at May 15.

The company noted that purchases may commence on June 12 and may continue until
June 11, 2025, when the bid expires or such earlier date as the Bank may
complete its purchases pursuant to the notice of intention.

Separately, Royal Bank of Canada said its board of directors has declared an
increase of 3 percent to its quarterly share dividend to C$1.42 per share,
payable on and after August 23, to shareholders of record at the close of
business on July 25.

The board also declared dividends for select Non-Cumulative First Preferred
Shares, payable on and after August 23, to shareholders of record on July 25;
and select Non-Cumulative First Preferred Shares, payable on and after August 23
to shareholders of record on August 16.

In its second quarter, Royal Bank of Canada's bottom line totaled C$3.88
billion, or C$2.74 per share, higher than C$3.61 billion, or C$2.60 per share
last year. Adjusted earnings were C$4.13 billion or C$2.92 per share for the
period, compared to $2.68 per share a year ago.

The company's revenue for the quarter rose 13.7 percent to C$14.15 billion from
C$12.45 billion last year.

Analysts on average expected the company to report earnings of C$2.75 per share
on revenues of C$13.53 billion, according to figures compiled by Thomson
Reuters. Analysts' estimates typically exclude special items.



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