Royal Bank of Canada (RBC) is one of the largest banks in Canada (the largest by market cap), RBC has 1,210 active branches with 17 million clients spread across 29 countries. It is in the stable/mature stage of the company's life cycle. Under the Residual Theory of Dividends, what is the expected Dividend policy for RBC? a. Provide steady, regular dividends since investors would expect it b. No dividends, all profits are retained to fund future expansions c. Maximum dividends to attract more investors d. Large special dividends to reward shareholders whenever company shows profits e. No dividends, all profits must be retained to fund: training employees, investing in research and development

Royal Bank of Canada (RBC) is one of the largest banks in Canada (the largest by market cap), RBC has 1,210 active branches with 17 million clients spread across 29 countries. It is in the stable/mature stage of the company's life cycle. Under the Residual Theory of Dividends, what is the expected Dividend policy for RBC? a. Provide steady, regular dividends since investors would expect it b. No dividends, all profits are retained to fund future expansions c. Maximum dividends to attract more investors d. Large special dividends to reward shareholders whenever company shows profits e. No dividends, all profits must be retained to fund: training employees, investing in research and development