TORONTO, May 27, 2010—  Royal Bank of Canada (RY on TSX and NYSE) today declared a quarterly common share dividend of $0.50 per share, payable on and after August 24, 2010, to common shareholders of record at the close of business on July 26, 2010.

The board also declared dividends on the following Non-Cumulative First Preferred Shares, payable on and after August 24, 2010, to shareholders of record at the close of business on July 26, 2010.

• Series W, Dividend No. 22 of $0.30625 per share.
  
• Series AA, Dividend No. 18 of $0.278125 per share.
  
• Series AB, Dividend No. 16 of $0.29375 per share.
  
• Series AC, Dividend No. 15 of $0.2875 per share.
  
• Series AD, Dividend No. 14 of $0.28125 per share.
  
• Series AE, Dividend No. 14 of $0.28125 per share.
  
• Series AF, Dividend No. 13 of $0.278125 per share.
  
• Series AG, Dividend No. 13 of $0.28125 per share.
  
• Series AH, Dividend No. 9 of $0.353125 per share.
  
• Series AJ, Dividend No. 7 of $0.3125 per share.
  
• Series AL, Dividend No. 7 of $0.3500 per share.
  
• Series AN, Dividend No. 6 of $0.390625 per share.
  
• Series AP, Dividend No. 6 of $0.390625 per share.
  
• Series AR, Dividend No. 6 of $0.390625 per share.
  
• Series AT, Dividend No. 5 of $0.390625 per share.
  
• Series AV, Dividend No. 5 of $0.390625 per share.
  
• Series AX, Dividend No. 5 of $0.38125 per share.

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For further information:

Investor Contact:
Shirley Boudreau,
Shareholder Relations, Toronto (416) 955-7806, shirley.boudreau@rbc.com

Media Contact:
Gillian McArdle,
Media Relations, Toronto (416) 974-5506, toll-free 1-888-880-2173, gillian.mcardle@rbc.com