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BMO Financial Group Increases Common Share Dividend
Bank of Montreal (TSX:BMO)(NYSE:BMO) has announced that the Board of Directors declared a quarterly dividend of $0.90 per share on paid-up common shares of Bank of Montreal for the third quarter of fiscal year 2017 (“Q3 2017 Dividend”), a 2 cent increase from the previous quarter and up 5% from a year ago.
The Board of Directors also declared dividends of:
$0.211875 per share on paid-up Class B Preferred Shares Series 16;
$0.138504 per share on paid-up Class B Preferred Shares Series 17;
$0.112813 per share on paid-up Class B Preferred Shares Series 25;
$0.106997 per share on paid-up Class B Preferred Shares Series 26;
$0.25 per share on paid-up Class B Preferred Shares Series 27;
$0.24375 per share on paid-up Class B Preferred Shares Series 29;
$0.2375 per share on paid-up Class B Preferred Shares Series 31;
$0.2375 per share on paid-up Class B Preferred Shares Series 33;
$0.3125 per share on paid-up Class B Preferred Shares Series 35;
$14.625 per share on paid-up Class B Preferred Shares Series 36(1);
$0.303125 per share on paid-up Class B Preferred Shares Series 38; and
$0.52089 per share on paid-up Class B Preferred Shares Series 40.
The dividend on the common shares is payable on August 28, 2017, to shareholders of record on August 1, 2017. The dividends on the preferred shares are payable on August 25, 2017, to shareholders of record on August 1, 2017.
The above-mentioned dividends on the common and preferred shares are designated as “eligible” dividends for the purposes of the Income Tax Act (Canada) and any similar provincial and territorial legislation.
Common shareholders may elect to have their cash dividends reinvested in common shares of the Bank in accordance with the Bank’s Shareholder Dividend Reinvestment and Share Purchase Plan (the “Plan”). For the Q3 2017 Dividend declared today and subsequently until further notice, common shares under the Plan will be purchased on the open market.
For registered shareholders who wish to participate in the Plan, Enrolment Forms must be received by the Bank’s transfer agent, Computershare Trust Company of Canada, by the close of business on August 3, 2017. Beneficial or non-registered holders must contact their financial institution or broker well in advance of the above date for instructions on how to participate.
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