Royal Bank of Canada
RYFinancial Services · Stock · quarterly payer
Forward Yield
2.37%
Annual Dividend
$5.10
Payout Ratio
41%
5-Yr Growth
6.2%
Ex-Date
Jul 27, 2026
Frequency
Quarterly
Summary
As of July 2026, Royal Bank of Canada (RY) yields 2.37% ($5.10 per share annually), with a blended fair-value estimate of $435.73 — +102% upside, so it screens as undervalued. Dividend safety grade: B (75/100). 10 years of dividend growth.
Is RY a good dividend stock?
YesRoyal Bank of Canada (RY) pays a quarterly dividend yielding 2.37% ($5.10/yr), with 10 years of growth and a dividend-safety grade of B. It scores well across payout coverage, growth history and safety — a dependable income holding.
Advantages
- 10 consecutive years of dividend growth
- Comfortable payout ratio (41%)
- Strong 6.2% 5-yr dividend growth
- 110% total price return over 5 years
Risks
- Cut its dividend in 2015
Key Data
- Dividend Yield
- 2.37%
- Payout Ratio
- 41%
- Annual Dividend
- $5.10
- 5-Yr Avg Growth
- 6.2%
- Ex-Dividend Date
- Jul 27, 2026
- Years of Growth
- 10
- Frequency
- quarterly
- Beta
- 0.93
- Market Cap
- $292.3B
- P/E Ratio
- 19.9
- 5-Yr Total Return
- 110%
- 52-Week Range
- $127.38 – $218.57
- Dividend Safety
- B · 75/100
- Ever Cut?
- Yes (2015)
Frequently Asked Questions
RY Price — Last 12 Months
Daily close
Price Return
1 Year
+48%
3 Years
+139%
5 Years
+110%
52-Week Range
$127.38 – $218.57
Price change over each period (excludes dividends). Past performance doesn't guarantee future results.
What is RY worth?
Undervaluedlow confidenceOur blended fair-value estimate for Royal Bank of Canada is $435.73 per share, versus a market price of $215.43. That implies 102% of upside — a margin of safety of about 51%.
Fair Value
$435.73
Current Price
$215.43
Upside
+102%
Margin of Safety
51%
How we get there
Discounted cash flow
Discounts projected free cash flow back to today.
Dividend discount
Discounts the future dividend stream back to today.
Earnings multiple (Graham)
Graham's earnings-multiple formula, anchored to bond yields.
At today's price, the market is pricing in about -10.0% annual free-cash-flow growth. We model 10.1% — below our estimate, leaving room for upside if the business executes.
Assumptions: 9.0% discount rate (CAPM), 10.1% stage-1 growth, 2.5% terminal growth, $10.84 EPS, $5.10 annual dividend. Updated weekly.
Fair-value estimates are model output for educational purposes only — not investment advice or a price target.
RY Dividend Safety Score
Safe
SmarterDividends' proprietary score, backtested against which dividends were actually cut over 15+ years (0.78 AUC). It blends a validated cut-risk model (growth streak, cut history) with current payout, cash-flow and debt. Higher is safer · not investment advice.
Dividend Growth
Total dividends per share by year
Dividend History
| Ex-Date | Pay Date | Amount | Type |
|---|---|---|---|
| Apr 23, 2026 | — | $1.2000 | regular |
| Jul 24, 2025 | — | $1.1320 | regular |
| Apr 24, 2025 | — | $1.0660 | regular |
| Jan 27, 2025 | — | $1.0320 | regular |
| Oct 24, 2024 | — | $1.0260 | regular |
| Jul 25, 2024 | — | $1.0290 | regular |
| Apr 24, 2024 | — | $1.0100 | regular |
| Jan 24, 2024 | — | $1.0250 | regular |
| Oct 25, 2023 | — | $0.9830 | regular |
| Jul 25, 2023 | — | $1.0250 | regular |
| Apr 24, 2023 | — | $0.9750 | regular |
| Jan 25, 2023 | — | $0.9880 | regular |
| Oct 25, 2022 | — | $0.9340 | regular |
| Jul 25, 2022 | — | $0.9910 | regular |
Income Calculator
At $5.10 / yr per share
