Royal Bank of Canada announces amendments to its dividend
reinvestment plan
TORONTO, February 26, 2009 — Royal Bank of
Canada (RY on TSX and NYSE) today announced amendments to
its dividend reinvestment plan (the "plan").
Under the plan, the bank may now offer a discount from the
average market price (as defined in the plan) on the reinvestment
of dividends in additional common shares issued by the bank
from treasury and will provide the preferred shareholders
of the bank with the opportunity to participate in the plan
by electing to have the dividends paid on their preferred
shares reinvested in common shares of the bank.
Under the plan, common and preferred shareholders who reside
in Canada and common shareholders in the United States may
elect to have dividends paid on their shares reinvested in
common shares of the bank. The bank determines whether the
common shares are purchased on the secondary market or are
newly-issued by the bank from treasury.
At this time, the bank has decided to issue shares from treasury
at a three per cent discount from the average market price
until such time as the bank elects otherwise. Most recently
the common shares purchased under the plan have been issued
from treasury with no discount to the average market price.
These changes will be effective starting with the dividend,
payable on May 22, 2009 to common and preferred shareholders
of record on April 23, 2009.
Shareholders who currently participate in the plan and who
will continue to do so will automatically have the discount
applied to the reinvestment of their dividends on the May
22, 2009 payment date. Registered common shareholders of record
residing in Canada and the United Sates wishing to join the
plan can obtain an enrolment form from the bank's plan agent,
Computershare Trust Company of Canada, from their website
at www.computershare.com/rbc,
or by calling 1-866-586-7635. Eligible beneficial or non-registered
holders of the bank's common and preferred shares must contact
their financial institution or broker if they wish to participate
in the plan.
In order to participate in time for the May 22, 2009 dividend
payment date, enrolment forms from registered holders must
be received by Computershare Trust Company of Canada, 100
University Avenue, Toronto, Ontario M5J 2Y1 before the close
of business on April 16, 2009. Eligible beneficial or non-registered
holders must contact their financial institution or broker
for instructions on how to participate in advance of the above
date.
Registered participants in the plan who would prefer to receive
a cash dividend rather than reinvest their dividends may terminate
their participation in the plan by duly completing the termination
portion of the voucher on the reverse of the statement of
account and sending it to Computershare Trust Company of Canada
at the above address, to be received by no later than April
16, 2009 in order to be effective for the May 22, 2009 dividend
payment. Non-registered participants in the plan should contact
their financial institution or broker in advance of April
16, 2009 for instructions on how to terminate participation
so that the May 22, 2009 dividend is not reinvested in common
shares.
The securities referenced above have not been and will not
be registered under the United States Securities Act of
1933, as amended, or under any state securities laws,
and may not be offered, sold, directly or indirectly, or delivered
within the United States of America and its territories and
possessions or to, or for the account or benefit of, United
States persons except in certain transactions exempt from
the registration requirements of such Act. This release does
not constitute an offer to sell or a solicitation to buy such
securities in the United States.
- 30 -
For further information:
Investor Contact:
Shirley Boudreau,
Shareholder Relations, Toronto (416) 955-7806, shirley.boudreau@rbc.com
Media Contact:
Stephanie Lu,
Media Relations, Toronto (416) 974-5506,
toll-free 1-888-880-2173, stephanie.lu@rbc.com
|
