Dividend Reliability and Global Reach: The Case for Royal Bank of Canada (RY)

Royal Bank of Canada (NYSE:RY) is included among the 11 Best Bank Dividend Stocks to Buy.

Dividend Reliability and Global Reach: The Case for Royal Bank of Canada (RY)

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Royal Bank of Canada (NYSE:RY) is a Canadian financial services company and the largest bank in Canada by market cap. The bank’s operations go well beyond personal banking, with strong performances in commercial banking, wealth management, and capital markets.

The March 2024 purchase of HSBC Canada further cemented its leadership in the Canadian market, broadening both its reach and customer base. Royal Bank of Canada (NYSE:RY) has been consistent in carrying out its strategy, supported by a solid balance sheet, an experienced management team, and a strong presence nationwide. The HSBC Canada deal lifted its net income, and even with higher provisions for potential loan losses, its capital strength remained firm with a 13.2% CET1 ratio. With dependable dividends, diverse revenue sources, and financial resilience, RBC stands out as a long-term investment capable of weathering short-term market swings.

Royal Bank of Canada (NYSE:RY) is one of the best dividend stocks as the company has been growing its payouts for 15 consecutive years. The company currently offers a quarterly dividend of C$1.54 per share and has a dividend yield of 3.03%, as of September 24.

While we acknowledge the potential of RY as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than RY and that has a 100x upside potential, check out our report about the cheapest AI stock.

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Disclosure: None.