Royal Bank of Canada

OBSI announces new board members

Retrieved on: 
Friday, March 1, 2024

TORONTO, March 01, 2024 (GLOBE NEWSWIRE) -- The Board of Directors for the Ombudsman for Banking Services and Investments (OBSI) is pleased to announce four appointments to the board:

Key Points: 
  • TORONTO, March 01, 2024 (GLOBE NEWSWIRE) -- The Board of Directors for the Ombudsman for Banking Services and Investments (OBSI) is pleased to announce four appointments to the board:
    Mary Condon has joined the board as a Consumer Interest Director.
  • Previously, she was a board member of the Capital Markets Authority Implementation Organization, and Commissioner and board member of the Ontario Securities Commission (OSC), where she was also a Vice-Chair.
  • All directors have a fiduciary duty to OBSI and do not advocate for or represent any outside interest while engaged in OBSI governance.
  • If a consumer has a complaint against an OBSI participating bank or investment firm that they are not able to resolve with the bank or firm, OBSI will investigate at no cost to the consumer.

First Advantage to Acquire Sterling Check Corp. for $2.2 Billion in Cash and Stock

Retrieved on: 
Thursday, February 29, 2024

First Advantage will issue a combination of cash and stock valuing Sterling at approximately $2.2 billion, including Sterling’s outstanding debt.

Key Points: 
  • First Advantage will issue a combination of cash and stock valuing Sterling at approximately $2.2 billion, including Sterling’s outstanding debt.
  • First Advantage will share additional forward-looking financial information regarding the transaction’s impact at or around the time of closing.
  • The transaction consideration is comprised of approximately $1.2 billion in cash and 27.15 million shares of First Advantage common stock.
  • Under the terms of the agreement, Sterling shareholders will elect to receive either $16.73 in cash or 0.979 shares of First Advantage common stock for each Sterling share.

Rambus Initiates Accelerated Share Repurchase Program

Retrieved on: 
Friday, March 1, 2024

Rambus Inc. (NASDAQ: RMBS ), a premier chip and silicon IP provider making data faster and safer, today announced that it initiated an accelerated share repurchase program with Royal Bank of Canada, through its agent RBC Capital Markets, LLC (“Dealer”) to repurchase an aggregate of approximately $50 million of its common stock.

Key Points: 
  • Rambus Inc. (NASDAQ: RMBS ), a premier chip and silicon IP provider making data faster and safer, today announced that it initiated an accelerated share repurchase program with Royal Bank of Canada, through its agent RBC Capital Markets, LLC (“Dealer”) to repurchase an aggregate of approximately $50 million of its common stock.
  • “As part of our ongoing capital allocation strategy and commitment to increasing stockholder value, this share repurchase program reflects the strength of our balance sheet and cash generation, and demonstrates our continued confidence in the long-term growth of the company,” said Luc Seraphin, president and chief executive officer at Rambus.
  • Under the accelerated share repurchase program, Rambus will pre-pay $50 million to Dealer and receive an initial delivery of approximately 675,000 shares of its common stock within the first week of the program.
  • The accelerated share repurchase program is part of the broader share repurchase program previously authorized by the Rambus Board of Directors.

Government of Canada announces two new funding opportunities for sustainable jobs in the low-carbon economy

Retrieved on: 
Friday, March 8, 2024

Today, the Minister of Employment, Workforce Development and Official Languages, Randy Boissonnault, announced new funding opportunities to help employers, organizations, and unions train workers for jobs in the low-carbon economy.

Key Points: 
  • Today, the Minister of Employment, Workforce Development and Official Languages, Randy Boissonnault, announced new funding opportunities to help employers, organizations, and unions train workers for jobs in the low-carbon economy.
  • Today's announcement is another step the Government is taking to grow Canada's economy and create good and well-paying sustainable jobs for generations to come.
  • In order to reach our full potential, we are investing in Canadian workers, including through the Sustainable Jobs Training Fund.
  • Royal Bank of Canada estimates the net-zero transition could create up to 400,000 new jobs in Canada by the end of this decade alone.

RBC Global Asset Management Inc. announces February 2024 cash distributions for ETF Series of RBC Funds

Retrieved on: 
Thursday, February 29, 2024

For further information regarding ETF Series of RBC Funds, please visit www.rbcgam.com/etfsolutions .

Key Points: 
  • For further information regarding ETF Series of RBC Funds, please visit www.rbcgam.com/etfsolutions .
  • Commissions, management fees and expenses all may be associated with investments in mutual funds and exchange-traded funds (ETFs).
  • ETF Series is a class of securities offered by a conventional mutual fund however, unlike conventional mutual fund series, ETF Series are bought and sold at market price on a stock exchange like an ETF.
  • RBC Funds are managed by RBC Global Asset Management Inc., which is a member of the RBC GAM group of companies and an indirect wholly-owned subsidiary of Royal Bank of Canada.

TIFIN AG Announces Collaboration with RBC Wealth Management U.S. to Deepen Advisor-Client Relationships

Retrieved on: 
Wednesday, February 28, 2024

BOULDER, Colo. and NEW YORK, Feb. 28, 2024 /PRNewswire/ -- TIFIN, a leading AI and innovation platform for wealth, announces a new phase of collaboration between TIFIN AG and RBC Wealth Management-U.S. All financial advisors at RBC Wealth Management-U.S. now have access to AI-Powered Insights, a new program that uses artificial intelligence to observe client behaviors and patterns to identify those who might have money in motion following a significant financial event. Started as a pilot program last August, AI-Powered Insights officially rolled out company-wide this week.

Key Points: 
  • The work with RBC Wealth Management-U.S. represents the impact TIFIN AG is driving across many wealth enterprises.
  • We look forward to working with TIFIN AG to use technology to better support client-advisor interactions."
  • The work with RBC Wealth Management-U.S. represents the impact that TIFIN AG is driving across many different wealth enterprises.
  • "Partners such as RBC Wealth Management-U.S. share that mission and we are delighted to be working together."

MUFG continues to strategically invest in Leveraged Credit business with key new hire

Retrieved on: 
Tuesday, February 27, 2024

He joins MUFG from Legal & General Investment Management (LGIM) America where he was a Senior High Yield Analyst.

Key Points: 
  • He joins MUFG from Legal & General Investment Management (LGIM) America where he was a Senior High Yield Analyst.
  • Additionally, Mark Schillings, Sarah Henry, and Chris Sym recently joined MUFG as a Director and Vice Presidents, respectively, on the Leveraged Credit Distribution team.
  • Prior to joining MUFG, Mark held various positions at Bank of America and Goldman Sachs, covering high yield, cross credit, and leveraged finance sales.
  • Sarah came to MUFG's Credit Trading team from Royal Bank of Canada, where she spent more than six years in their Capital Markets business.

Dave McKay of RBC to speak at the 2024 RBC Capital Markets Financial Institutions Conference

Retrieved on: 
Monday, February 26, 2024

TORONTO, Feb. 26, 2024 /CNW/ - Dave McKay, president and chief executive officer of Royal Bank of Canada (RY on TSX and NYSE) will be participating in a fireside chat with Derek Neldner, CEO and group head, RBC Capital Markets, taking place in New York from 8:00 a.m. to 8:35 a.m. on March 5 (EST).

Key Points: 
  • TORONTO, Feb. 26, 2024 /CNW/ - Dave McKay, president and chief executive officer of Royal Bank of Canada (RY on TSX and NYSE) will be participating in a fireside chat with Derek Neldner, CEO and group head, RBC Capital Markets, taking place in New York from 8:00 a.m. to 8:35 a.m. on March 5 (EST).
  • A link to the live audio webcast will be available on RBC's website at https://www.rbc.com/investor-relations/events-and-presentations.html on March 5, 2024.
  • The webcast will be archived for three months.

RBC iShares to expand suite of RBC Target Maturity Bond ETFs

Retrieved on: 
Tuesday, February 20, 2024

TORONTO, Feb. 20, 2024 /CNW/ - RBC iShares intends to expand its suite of RBC Target Maturity Bond ETFs with the filing by RBC Global Asset Management Inc. ("RBC GAM Inc.") (on February 16, 2024) of a Preliminary Prospectus (the "Preliminary Prospectus") with the securities regulatory authority in each province and territory of Canada for six new RBC Target Maturity U.S. Corporate Bond ETFs, as well as an additional RBC Target Maturity Canadian Government Bond ETF and an additional RBC Target Maturity Canadian Corporate Bond Index ETF.

Key Points: 
  • TORONTO, Feb. 20, 2024 /CNW/ - RBC iShares intends to expand its suite of RBC Target Maturity Bond ETFs with the filing by RBC Global Asset Management Inc. ("RBC GAM Inc.") (on February 16, 2024) of a Preliminary Prospectus (the "Preliminary Prospectus") with the securities regulatory authority in each province and territory of Canada for six new RBC Target Maturity U.S. Corporate Bond ETFs, as well as an additional RBC Target Maturity Canadian Government Bond ETF and an additional RBC Target Maturity Canadian Corporate Bond Index ETF.
  • The new RBC ETFs will be managed by RBC GAM Inc.
    New RBC Target Maturity U.S. Corporate Bond ETF suite
    The RBC Target Maturity U.S. Corporate Bond ETFs will have maturities ranging from 2025 through 2030 and will complement the existing suites of RBC Target Maturity Canadian Government Bond ETFs and RBC Target Maturity Canadian Corporate Bond Index ETFs.
  • The investment objective of each RBC Target Maturity U.S. Corporate Bond ETF will be to provide income, for a limited period of time ending on the respective RBC Target Maturity U.S. Corporate Bond ETF's Termination Date (defined as on or about September 30 of its applicable maturity year), by investing primarily in a portfolio of investment-grade fixed income securities issued in the U.S. market by U.S. and foreign corporations that mature in the same calendar year as the RBC Target Maturity U.S. Corporate Bond ETF's Termination Date.
  • In addition, the Preliminary Prospectus includes the addition of RBC Target 2030 Canadian Government Bond ETF and RBC Target 2030 Canadian Corporate Bond Index ETF, extending the available maturities of the RBC Target Maturity Canadian Government Bond ETF suite and the RBC Target Maturity Canadian Corporate Bond Index ETF suite, respectively.

Monthly Dividend Declaration for Class A & Preferred Share

Retrieved on: 
Friday, February 16, 2024

TORONTO, Feb. 16, 2024 (GLOBE NEWSWIRE) -- Canadian Banc Corp. (The "Company") declares its monthly distribution of $0.13250 for each Class A share and $0.06667 for each Preferred share.

Key Points: 
  • TORONTO, Feb. 16, 2024 (GLOBE NEWSWIRE) -- Canadian Banc Corp. (The "Company") declares its monthly distribution of $0.13250 for each Class A share and $0.06667 for each Preferred share.
  • As a result, Class A shareholders of record on February 29, 2024 will receive a dividend of $0.13250 per share based on the VWAP of $10.60 payable on March 8, 2024.
  • Since inception Class A shareholders have received a total of $21.70 per share and Preferred shareholders have received a total of $10.24 per share inclusive of this distribution, for a combined total of $31.94.
  • To generate additional returns above the dividend income earned on the portfolio, The Company engages in a selective covered call writing program.