Royal Bank of Canada announces amendments to its dividend reinvestment plan



    TORONTO, Feb. 26 /CNW/ - Royal Bank of Canada (RY on TSX and NYSE) today
announced amendments to its dividend reinvestment plan (the "plan").
    Under the plan, the bank may now offer a discount from the average market
price (as defined in the plan) on the reinvestment of dividends in additional
common shares issued by the bank from treasury and will provide the preferred
shareholders of the bank with the opportunity to participate in the plan by
electing to have the dividends paid on their preferred shares reinvested in
common shares of the bank.
    Under the plan, common and preferred shareholders who reside in Canada
and common shareholders in the United States may elect to have dividends paid
on their shares reinvested in common shares of the bank. The bank determines
whether the common shares are purchased on the secondary market or are
newly-issued by the bank from treasury.
    At this time, the bank has decided to issue shares from treasury at a
three per cent discount from the average market price until such time as the
bank elects otherwise. Most recently the common shares purchased under the
plan have been issued from treasury with no discount to the average market
price. These changes will be effective starting with the dividend, payable on
May 22, 2009 to common and preferred shareholders of record on April 23, 2009.
    Shareholders who currently participate in the plan and who will continue
to do so will automatically have the discount applied to the reinvestment of
their dividends on the May 22, 2009 payment date. Registered common
shareholders of record residing in Canada and the United Sates wishing to join
the plan can obtain an enrolment form from the bank's plan agent,
Computershare Trust Company of Canada, from their website at
www.computershare.com/rbc, or by calling 1-866-586-7635. Eligible beneficial
or non-registered holders of the bank's common and preferred shares must
contact their financial institution or broker if they wish to participate in
the plan.
    In order to participate in time for the May 22, 2009 dividend payment
date, enrolment forms from registered holders must be received by
Computershare Trust Company of Canada, 100 University Avenue, Toronto, Ontario
M5J 2Y1 before the close of business on April 16, 2009. Eligible beneficial or
non-registered holders must contact their financial institution or broker for
instructions on how to participate in advance of the above date.
    Registered participants in the plan who would prefer to receive a cash
dividend rather than reinvest their dividends may terminate their
participation in the plan by duly completing the termination portion of the
voucher on the reverse of the statement of account and sending it to
Computershare Trust Company of Canada at the above address, to be received by
no later than April 16, 2009 in order to be effective for the May 22, 2009
dividend payment. Non-registered participants in the plan should contact their
financial institution or broker in advance of April 16, 2009 for instructions
on how to terminate participation so that the May 22, 2009 dividend is not
reinvested in common shares.
    The securities referenced above have not been and will not be registered
under the United States Securities Act of 1933, as amended, or under any state
securities laws, and may not be offered, sold, directly or indirectly, or
delivered within the United States of America and its territories and
possessions or to, or for the account or benefit of, United States persons
except in certain transactions exempt from the registration requirements of
such Act. This release does not constitute an offer to sell or a solicitation
to buy such securities in the United States.





For further information:

For further information: Investor Contact: Shirley Boudreau, Shareholder
Relations, Toronto, (416) 955-7806, shirley.boudreau@rbc.com; Media Contact:
Stephanie Lu, Media Relations, Toronto, (416) 974-5506, toll-free
1-888-880-2173, stephanie.lu@rbc.com


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