BMO Financial Group Increases Common Share Dividend by 4 cents from the prior quarter, up 5 per cent from the prior year

Rhea-AI Summary

BMO Financial Group has announced a dividend increase for Q1 2025. The quarterly dividend on common shares will be $1.59 per share, representing a 4-cent (3%) increase from the previous quarter and a 5% increase year-over-year. The bank also declared dividends of $0.190875 per share on Class B Preferred Shares Series 33 and $0.426 per share on Class B Preferred Shares Series 44.

Common share dividends will be payable on February 26, 2025, to shareholders of record on January 30, 2025. Preferred share dividends will be paid on February 25, 2025. Shareholders can participate in the Dividend Reinvestment and Share Purchase Plan, with enrollment forms due by February 3, 2025.

Positive

• Quarterly dividend increased by 3% quarter-over-quarter
• Year-over-year dividend growth of 5%
• Dividend reinvestment option available for shareholders

Negative

• None.

News Market Reaction

+4.53%

1 alert

+4.53% News Effect

On the day this news was published, BMO gained 4.53%, reflecting a moderate positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

TORONTO, Dec. 5, 2024 /PRNewswire/ - Bank of Montreal (TSX:BMO) (NYSE:BMO) today announced that its Board of Directors declared a quarterly dividend of $1.59 per share on paid-up common shares of Bank of Montreal for the first quarter of fiscal year 2025 ("Q1 2025 Dividend"), a 4 cent, or 3 per cent, increase from the prior quarter, up 5 per cent from the prior year.

The Board of Directors also declared dividends of:

• $0.190875 per share on paid-up Class B Preferred Shares Series 33; and
• $0.426 per share on paid-up Class B Preferred Shares Series 44.

The dividend on the common shares is payable on February 26, 2025, to shareholders of record on January 30, 2025.  The dividends on preferred shares are payable on February 25, 2025, to shareholders of record on January 30, 2025. 

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").  Such additional common shares will be purchased on the open market without a discount until further notice.

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 February 3, 2025. 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.

More information about the Plan and how to enroll can be found at: 
http://www.bmo.com/home/about/banking/investor-relations/shareholder-information/dividend-reinvestment-plan

Internet: www.bmo.com   X: @BMOmedia

View original content:https://www.prnewswire.com/news-releases/bmo-financial-group-increases-common-share-dividend-by-4-cents-from-the-prior-quarter-up-5-per-cent-from-the-prior-year-302323723.html

SOURCE BMO Financial Group

FAQ

What is BMO's new quarterly dividend amount for Q1 2025?

BMO's new quarterly dividend for Q1 2025 is $1.59 per common share.

When will BMO pay its Q1 2025 dividend?

BMO will pay its Q1 2025 dividend on February 26, 2025, to shareholders of record as of January 30, 2025.

By how much did BMO increase its dividend compared to last quarter?

BMO increased its dividend by 4 cents per share, or 3%, compared to the previous quarter.

What is the deadline to enroll in BMO's Dividend Reinvestment Plan for Q1 2025?

The deadline for registered shareholders to enroll in BMO's Dividend Reinvestment Plan is February 3, 2025.