Today the Board of Directors of Royal Bank of Canada announced a quarterly dividend increase of from CA$ 0.79 to CA$ 0.81 per share that’s payable May 24, 2016 to holders of record April 25, 2016. This represents a 5.19 % increase over the first quarter 2015 dividend of CA$ 0.77 per share and a 2.53 % increase over for the third quarter 2015 of CA$ 0.79 per share. With current price CA$ 69.63 (yesterday's close), this raise brings their dividend yield to 4.65 %.
Since I own 120 shares, this will increase my portfolio's projected annual net dividend income by CA$ 7.15.
That increase rises my YOC to 4.28 %.
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You can follow the development of my dividends here.