UPDATE: Royal Bank of Canada Posts 7% Drop In Q2 Profit, Declares Dividend

Royal Bank of Canada

reported a 7% decline in its second-quarter profit. RBC's quarterly net income from continuing operations fell to C$1.56 billion, or C$1.01 per share, from C$1.68 billion, or C$1.10 per share, in the year-earlier period. RBC also announced its quarterly common share dividend of 57 cents a share. RBC shares closed at $51.72 yesterday.