Toronto, Jan 24, 2026, 15:59 (ET) — Market closed.
- Shares of Royal Bank of Canada closed Friday at C$232.71, slipping 0.04%
- The bank urged shareholders to turn down a below-market “mini tender” offer for as many as 500,000 shares
- Upcoming milestones include the ex-dividend date on Jan. 26, the Bank of Canada’s rate decision on Jan. 28, and RBC’s earnings report set for Feb. 26
Shares of Royal Bank of Canada (RY.TO) ended Friday in Toronto at C$232.71, slipping 9 cents after a volatile session that dragged the stock down to a low of C$230.60. The price fluctuated within a range of C$230.60 to C$233.33, with roughly 3.6 million shares traded. (StockAnalysis)
The market is closed Saturday, but Monday’s setup is still in play. RBC’s recent shareholder warning usually wouldn’t shift the stock by itself. Still, with the shares widely held and trading near a dividend date, it’s worth watching.
A “mini tender” targets a small portion of shares—usually less than 5%—allowing bidders to dodge certain disclosure and procedural requirements meant for standard takeover offers. RBC’s advice to investors is clear: watch the price closely and don’t rush into anything.
On Jan. 22, RBC disclosed in a U.S. Securities and Exchange Commission filing that TRC Capital Investment Corporation proposed buying up to 500,000 of its common shares, representing roughly 0.036% of the shares outstanding as of Jan. 13, at C$224 each in cash. RBC emphasized it has no connection to TRC and advised shareholders to turn down the offer.
The offer price comes in significantly under RBC’s last trade in Toronto. RBC pointed out the C$224 bid is roughly 4.5% beneath the C$234.56 closing price on Jan. 13, the day before the offer was made.
Monday adds a technical twist: RBC goes ex-dividend on Jan. 26 for its next quarterly payout, per a Nasdaq dividend note. Shares bought on or after that date won’t collect the upcoming dividend. Typically, that causes the stock to open down by about the dividend amount. (Nasdaq)
Interest rates remain the key driver for Canadian banks, more so than the corporate fine print. All eyes will be on the Bank of Canada’s Jan. 28 decision, which could reshape outlooks on loan growth, funding costs, and credit conditions.
A Reuters poll of economists forecasts the central bank will hold its key rate steady at 2.25% on Jan. 28. Claire Fan, a senior economist at RBC, told the poll, “We think the economy is at a turning point for the better.” (Reuters)
RBC’s next major event after the central bank’s move is its first-quarter earnings report. The bank plans to release fiscal Q1 results on Feb. 26, followed by a conference call at 8:30 a.m. ET, per its investor relations calendar. (RBC)
Heading into that report, the context remains anchored by RBC’s early December move, when it boosted its quarterly dividend and updated its fiscal 2026 return-on-equity target to above 17%. (RBC)
RBC isn’t operating in isolation. Toronto-Dominion Bank, Bank of Montreal, and Bank of Nova Scotia usually follow the same rate trends, with traders often viewing the group as a single play on policy and credit.
Monday’s open might get clouded by a dividend-driven dip, while Wednesday’s Bank of Canada update could swiftly shake the sector. The mini-tender, though modest, could snare some inattentive shareholders as well.
The initial test arrives Jan. 26, as RBC goes ex-dividend. But the real focus is Jan. 28, when the Bank of Canada announces its rate decision and guidance.
