BMO Financial Group Declares Dividends

Rhea-AI Summary

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.

Positive

• Common share dividend of $1.06 maintained, with a 3% increase from last year.
• Preferred share dividends declared, providing income to preferred shareholders.
• Eligibility of dividends for tax benefits under the Income Tax Act (Canada).

Negative

• None.

 

TORONTO, Aug. 25, 2020 /PRNewswire/ - Bank of Montreal (TSX: BMO) (NYSE: BMO) today announced that its Board of Directors declared a quarterly dividend of $1.06 per share on paid-up common shares of Bank of Montreal for the fourth quarter of fiscal year 2020 ("Q4 2020 Dividend"), unchanged from the previous quarter and up 3 per cent from the prior year.

The Board of Directors also declared dividends of:

• $0.112813 per share on paid-up Class B Preferred Shares Series 25;
• $0.083052 per share on paid-up Class B Preferred Shares Series 26;
• $0.24075 per share on paid-up Class B Preferred Shares Series 27;
• $0.2265 per share on paid-up Class B Preferred Shares Series 29;
• $0.240688 per share on paid-up Class B Preferred Shares Series 31;
• $0.190875 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;
• $0.28125 per share on paid-up Class B Preferred Shares Series 40;
• $0.275 per share on paid-up Class B Preferred Shares Series 42;
• $0.303125 per share on paid-up Class B Preferred Shares Series 44; and
• $0.31875 per share on paid-up Class B Preferred Shares Series 46.

The dividend on the common shares is payable on November 26, 2020, to shareholders of record on November 2, 2020. The dividends on the preferred shares are payable on November 25, 2020, to shareholders of record on November 2, 2020.

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 Q4 2020 Dividend declared today and subsequently until further notice, such additional common shares will be purchased on the open market without a discount. As previously announced, for the quarterly dividend on common shares declared on May 27, 2020, such additional common shares will be issued from treasury with a two percent discount from the Average Market Price (as defined in the Plan).

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 November 4, 2020. 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

(1)	The Class B Preferred Shares Series 36 were issued by way of private placement and are not listed on any stock exchanges.

 

View original content:http://www.prnewswire.com/news-releases/bmo-financial-group-declares-dividends-301117674.html

SOURCE BMO Financial Group

FAQ

What is the dividend amount for Bank of Montreal for Q4 2020?

The dividend amount for Bank of Montreal for Q4 2020 is $1.06 per share.

When is the dividend payment date for BMO's common shares?

The dividend payment date for BMO's common shares is November 26, 2020.

What are the record dates for BMO's dividends?

The record date for BMO's common shares is November 2, 2020.

Are BMO's dividends considered eligible dividends?

Yes, BMO's dividends are designated as 'eligible' dividends under the Income Tax Act (Canada).

Can shareholders reinvest their dividends in BMO?

Yes, shareholders can reinvest their cash dividends in common shares through BMO's Shareholder Dividend Reinvestment and Share Purchase Plan.