Here are five things you need to know this morning
Record profit at Royal Bank: Royal Bank topped income and revenue estimates in its latest quarter, with profit jumping 29 per cent to a record high of $5.4 billion. Canada’s biggest lender delivered strong results in its capital markets, wealth management divisions and personal and commercial banking. The U.S. capital markets franchise accounts for more than half of the unit’s revenues. RBC also boosted its quarterly dividend by six per cent.
National too: Profit at National Bank also came in at a record high, beating analyst estimates on net income and revenue in its fourth quarter. The Montreal-based lender also posted better than expected results at its capital markets unit. This is a resurgence for the division after it missed forecasts in the previous quarter. The firm is set to take over Laurentian Bank’s retail and small businesses operations in a three-way transaction that also includes Fairstone Bank.
Telus pausing dividend growth: Telus will pause its dividend growth while continuing to pay its quarterly dividend at the most recent level. The pause will remain until the telecommunications company’s share price reflects growth prospects. The Vancouver-based company also announced a new three year free cash flow growth target of 10 per cent.
Enbridge raises dividend: Enbridge has increased its dividend by three per cent and reaffirmed its growth outlook in its 2026 financial guidance. The Calgary-based pipeline operator has 8 billion dollars worth of projects entering service in 2026. It also expects strong growth from recent rate settlements and rate cases in gas distribution and gas transmission. Last month, the energy company approved a US$1.4 billion U.S. expansion to boost deliveries of heavy oil.
Toronto home prices fall again: Home prices in Canada’s largest real estate market slipped again in November, according to data from the Toronto Regional Real Estate Board. Sales were down nearly 16 per cent from the same time last year. The benchmark home price was also 5.8 per cent lower. The stagnation comes as tariffs imposed by the U.S. are deterring consumers from making big purchases.
