Bank Of Montreal Stock Price, News & Analysis

BMO Harris Bank and Cara have launched a workforce development program called BMORE, aimed at removing employment barriers and creating access to banking careers. Launched with a virtual hiring event on September 16, 2020, the initiative extended job offers to a cohort of 12 job seekers from Chicago's Austin and Little Village communities. This collaboration emphasizes diversity in recruitment and aims to support local economic development. Cara's extensive experience in workforce development will aid in preparing candidates for customer service roles at BMO, with training adapted to virtual formats due to COVID-19.

Bank of Montreal (TSX: BMO) announced a quarterly dividend of $1.06 per share for Q4 2020, maintaining the same amount as the previous quarter and reflecting a 3% increase year-over-year. Additional preferred share dividends were declared, with amounts ranging from $0.112813 to $14.625. The common share dividend is payable on November 26, 2020, to shareholders of record by November 2, 2020. These dividends are classified as 'eligible' under the Income Tax Act of Canada, and shareholders can reinvest dividends via the Shareholder Dividend Reinvestment and Share Purchase Plan.

BMO Financial Group reported a net income of $1,232 million or $1.81 per share for Q3 2020, down from $1,557 million or $2.34 per share in Q3 2019. Adjusted net income was $1,259 million, compared to $1,582 million last year. Revenue increased 4% year-over-year to $6,000 million. Provisions for credit losses surged to $1,054 million from $306 million. Return on equity (ROE) fell to 9.4% from 13.2%. The CET1 Ratio stood at 11.6%. The quarterly dividend of $1.06 is unchanged from the prior quarter.

BMO Financial Group will announce its third quarter 2020 financial results on August 25, 2020. Results will be released around 5:30 a.m. ET, followed by a conference call at 7:15 a.m. ET for the investor community. Participants can join via telephone at 1-800-806-5484 or listen online. Presentation materials will be available on their website and a rebroadcast of the call will be accessible until September 23, 2020. The webcast will remain available until November 30, 2020.

BMO Financial Group announced a partnership with Google to launch mobile-first bank accounts for U.S. customers, managed via Google Pay. This initiative marks BMO as one of only eight banks to offer this service, aiming to enhance digital deposit acquisition and customer engagement. The accounts will feature intuitive user experiences and financial insights built on BMO's existing infrastructure and will be FDIC-insured. Launch details are forthcoming, highlighting BMO's commitment to innovative banking solutions for a new generation.

BMO Capital Markets is set to host its first virtual healthcare conference on June 23, 2020, featuring nearly 60 companies from biotechnology, pharmaceutical, and healthcare sectors. The event will address the impact of COVID-19 on drug utilization, pipeline delays, and vaccine development. Keynote speaker Dr. Eric Feigl-Ding will discuss misinformation about COVID-19, drug safety, and public policy. Notable participating companies include Amgen, Moderna, and Regeneron. Media registration is open for those wishing to attend.

BMO Capital Markets is set to host its fifth annual healthcare conference virtually on June 23rd, 2020. The event will feature nearly 60 companies from the biotechnology, pharmaceutical, and healthcare sectors. Key topics include the impact of COVID-19 on drug utilization, vaccine development, and biopharma innovations. A keynote by Dr. Eric Feigl-Ding will cover drug treatments and public misconceptions about COVID-19. Notable participants include Amgen (AMGN), Anthem (ANTM), and Moderna (MRNA). Media registration is available online.