Shares of Royal Bank of Canada RY inched 0.26% higher to C$176.26 Wednesday, in what proved to be an all-around positive trading session for the Canadian market, with the S&P/TSX Composite Index GSPTSE rising 0.02% to 25,641.18.

Royal Bank of Canada reported a rise in fourth-quarter profit on Wednesday as the country's biggest lender benefited from strong performance in its personal banking business. The bank's adjusted net income rose to C$4.

Royal Bank of Canada raised its dividend as it reported a fourth-quarter profit of $4.22 billion, up from $3.94 billion in the same quarter last year.