Royal Bank of Canada to Repurchase up to 30 Million of its Common Shares

Royal Bank of Canada to Repurchase up to 30 Million of its Common Shares 
TORONTO, Oct. 12, 2012 /CNW/ - Royal Bank of Canada (TSX: RY) (NYSE: RY) today 
announced its intention, subject to the approval of the Office of the 
Superintendent of Financial Institutions (OSFI) and the Toronto Stock 
Exchange, to commence a normal course issuer bid through the facilities of the 
Toronto Stock Exchange and to repurchase for cancellation up to 30 million of 
its common shares, representing approximately 2.1 per cent of the bank's 
outstanding common shares as at September 28, 2012. On September 28, 2012, 
there were 1,444,700,692 common shares outstanding. The bank intends to file a 
notice of intention with the Toronto Stock Exchange in this regard. 
Purchases may commence on November 1, 2012, provided the Toronto Stock 
Exchange has accepted the notice of intention, and may continue until October 
31, 2013. The amount and timing of any purchases will be determined by the 
bank, except that the amount of purchases on any given day will not exceed 
634,500 common shares, which is 25 per cent of the average daily trading 
volume on the Toronto Stock Exchange for the six-months ending September 28, 
2012. Purchases under the bid will be made exclusively on the Toronto Stock 
Exchange and in accordance with the applicable Canadian and United States 
securities laws. The price paid for any repurchased shares will be the market 
price of such shares on the Toronto Stock Exchange at the time of acquisition. 
The proposed share repurchases will enable the bank to balance the imperatives 
of maintaining strong capital ratios with the ongoing need to generate 
shareholder value. On July 31, 2012, the bank's Tier 1 and Total capital 
ratios were 13.0 per cent and 15.0 per cent, respectively. 
Caution regarding forward-looking statements 
Certain statements contained in this press release may be deemed to be 
forward-looking statements within the meaning of certain securities laws, 
including the "safe harbour" provisions of the United States Private 
Securities Litigation Reform Act of 1995 and any applicable Canadian 
securities legislation. These forward-looking statements include, but are not 
limited to, statements with respect to the proposed normal course issuer bid 
by Royal Bank of Canada. Forward-looking statements are typically identified 
by words such as "believe", "expect", "foresee", "forecast", "anticipate", 
"intend", "estimate", "goal", "plan" and "project" and similar expressions of 
future or conditional verbs such as "will", "may", "should", "could" or 
By their very nature, forward-looking statements require us to make 
assumptions and are subject to inherent risks and uncertainties, which give 
rise to the possibility that our predictions, forecasts, projections, 
expectations or conclusions will not prove to be accurate, that our 
assumptions may not be correct and that our forward-looking statements, 
including statements about the proposed normal course issuer bid by Royal Bank 
of Canada, will not be achieved. We caution readers not to place undue 
reliance on these statements as a number of risk factors could cause our 
actual results to differ materially from the expectations expressed in such 
forward-looking statements. These factors - many of which are beyond our 
control and the effects of which can be difficult to predict - include: 
credit, market, operational, and liquidity and funding risks, and other risks 
discussed in the Risk management section of our 2011 Annual Report and in our 
Q3 2012 Report to Shareholders; general business, economic and financial 
market conditions in Canada, the United States and certain other countries in 
which we conduct business, including the effects of the European sovereign 
debt crisis, changes in accounting standards, policies and estimates; the 
effects of changes in government fiscal, monetary, economic and other 
policies; changes to and new interpretations of risk-based capital and 
liquidity guidelines; the impact of changes in laws and regulations; judicial 
or regulatory judgments and legal proceedings; and our ability to successfully 
execute our strategies. 
We caution that the foregoing list of risk factors is not exhaustive and other 
factors could also adversely affect our results. When relying on our 
forward-looking statements to make decisions with respect to us, investors and 
others should carefully consider the foregoing factors and other uncertainties 
and potential events. Additional information about these and other factors can 
be found in the Risk management and Overview of other risks sections of our 
2011 Annual Report and in the Risk management section of our Q3 2012 Report to 
Shareholders. Except as required by law, we do not undertake to update any 
forward-looking statement contained in this press release. 
Investor Contact: Karen McCarthy, Investor Relations, (416) 
Media Contact: Tanis (Robinson) Feasby, Corporate Communications, (416) 
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ST: Ontario
-0- Oct/12/2012 12:45 GMT
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