On 1/22/13, Royal Bank of Canada (RY) will trade ex-dividend, for its quarterly dividend of $0.60, payable on 2/22/13. As a percentage of RY's recent stock price of $62.07, this dividend works out to approximately 0.97%, so look for shares of Royal Bank of Canada to trade 0.97% lower all else being equal when RY shares open for trading on 1/22/13.