Stock Buy - Royal Bank (25 shares, $56 div income)

With a strong US dollar today, I went shopping in Canada and I think I got a good deal, eh ?

Royal Bank of Canada (NYSE:RY) is the largest financial institution in Canada serving 18 million clients with 80,000+ employees worldwide.

Royal Bank operates in one of the safest banking system in the world. However it currently trades at a discount due to potentially outstanding loans exposed to the oil and gas sector especially in the province of Alberta. Eventually oil price will recover and the economy there will improve. In the meantime, I will wait patiently and collect that solid 4.8% dividend yield.

This purchase will add $56/yr to the dividend income portfolio

Basic info:

Market CAP: 72B   EPS: $4.60  Dividend: $2.24 (~4.80%)