August 30, 2012 / 10:18 AM / in 5 years

RBC profit jumps 73 pct, bank surprises with dividend hike

TORONTO, Aug 30 (Reuters) - Royal Bank of Canada profit rose 73 percent in the fiscal third quarter, driven by higher loan volumes and fixed income trading results, prompting the bank to unexpectedly raise its quarterly dividend.

RBC, Canada’s largest bank, said on Thursday it earned C$2.2 billion, or C$1.47 a share, in the May-July period. That compared with a year-earlier profit of C$1.3 billion, or 83 Canadian cents a share, when the bank took a big charge related to the sale of its U.S. bank.

The bank raised its quarterly dividend by 5 percent to 60 Canadian cents a share, making it the fourth Canadian bank to raise its dividend this quarter.

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