The Duke and Duchess of Cambridge have called their new baby daughter Charlotte Elizabeth Diana, Kensington Palace has announced.

The Princess, who was born on Saturday May 2 at 8.34am, weighing 8lbs 3oz, will be known as Princess Charlotte.

Kensington Palace said in a short statement: “The Duke and Duchess of Cambridge are delighted to announce that they have named their daughter Charlotte Elizabeth Diana.

“The baby will be known as Her Royal Highness Princess Charlotte of Cambridge.” The naming of the royal baby Charlotte Elizabeth Diana will be seen as a tribute to the Duke of Cambridge’s father, mother and grandmother.

Charlotte is the feminine form of Charles and William and the Duchess of Cambridge are likely to have had their daughter’s grandfather in mind when they chose it.

William has spoken of his deep respect for his father and the amount of time the prince commits to his charitable work. “I just really hold him in great admiration,” the Duke has said.

The Prince of Wales strove to protect William and Prince Harry following the death of their mother Diana Princess of Wales and backed them as they have worked to honour her memory through their charitable connections.

They, in turn, accepted and supported him when he married Camilla Parker Bowles, now the Duchess of Cornwall.

William is protective of his father, defending him against criticism he has often faced. Naming his daughter after the prince will be seen as a clear public demonstration of his love of Charles.

Charlotte is also the middle name of Kate’s sister Pippa Middleton. Nicknames for the princess could include Lottie or Charlie.

French in origin, it means “petite” and “feminine” or “free man”.

According to the Office for National Statistics, Charlotte was the 21st most popular name for girls in England and Wales in 2013. It has fallen in popularity over the last decade and was in 4th place in 2000.

The Duke and Duchess of Cambridge are likely to have chosen Elizabeth in tribute to the baby’s great-grandmother the Queen.

And Diana was always expected to feature somewhere in remembrance of William’s late mother, who died in a car crash when William was 15.