BMO Financial Group Declares Dividends

Rhea-AI Summary

On February 28, 2023, Bank of Montreal (TSX: BMO) declared a quarterly dividend of $1.43 per share for the second quarter of fiscal year 2023, maintaining the same rate as the previous quarter. Additional dividends for preferred shares were also announced, with payments scheduled for May 25 and May 26, 2023. These dividends are classified as 'eligible' under the Income Tax Act of Canada. Shareholders may choose to reinvest dividends in common shares at a 2% discount through the Bank’s Dividend Reinvestment Plan. The record date for all dividends is April 28, 2023.

Positive

• Quarterly dividend of $1.43 per share, unchanged from prior quarter.
• Additional dividends declared for preferred shares.
• Common shareholders can reinvest at a 2% discount.

Negative

• None.

TORONTO, Feb. 28, 2023 /PRNewswire/ - Bank of Montreal (TSX: BMO) (NYSE: BMO) today announced that its Board of Directors declared a quarterly dividend of $1.43 per share on paid-up common shares of Bank of Montreal for the second quarter of fiscal year 2023 ("Q2 2023 Dividend"), unchanged from the prior quarter.

The Board of Directors also declared dividends of:

• $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;
• $0.303125 per share on paid-up Class B Preferred Shares Series 44;
• $0.31875 per share on paid-up Class B Preferred Shares Series 46;
• $36.865 per share on paid-up Class B Preferred Shares Series 50⁽¹⁾; and
• $22.23438356 per share on paid-up Class B Preferred Shares Series 52⁽¹⁾.

The dividend on the common shares is payable on May 26, 2023, to shareholders of record on April 28, 2023. The dividends on the preferred shares, except for Class B Preferred Shares Series 50 and Series 52, are payable on May 25, 2023, to shareholders of record on April 28, 2023. The dividends on the Class B Preferred Shares Series 50 and Series 52 are payable on May 26, 2023, to shareholders of record on April 28, 2023.

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"). 

As previously announced, and until further notice, such additional common shares will be issued from treasury with a two percent discount from the Average Market Price (as defined in the Plan).  The discount will not apply to common shares purchased under the "Optional Cash Payment" feature of the Plan.

For existing members of the Plan, the discount will automatically be applied to the reinvestment of the Q2 2023 Dividend.  For registered shareholders who wish to participate in the Plan and thereby receive the two percent discount in respect of the Q2 2023 Dividend, Enrolment Forms must be received by the Bank's transfer agent, Computershare Trust Company of Canada, by the close of business on May 2, 2023. 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 50 and 52 are not listed on any stock exchanges.

View original content:https://www.prnewswire.com/news-releases/bmo-financial-group-declares-dividends-301757708.html

SOURCE BMO Financial Group

FAQ

What is the dividend amount for BMO in Q2 2023?

BMO declared a dividend of $1.43 per share for Q2 2023.

When will BMO's Q2 2023 dividend be paid?

The dividend will be paid on May 26, 2023, to shareholders of record on April 28, 2023.

Are the dividends for BMO's preferred shares different?

Yes, BMO has announced various dividend amounts for its preferred shares, payable on May 25 and 26, 2023.

What is the discount for reinvesting BMO dividends?

Shareholders can reinvest dividends at a 2% discount through the Bank's Dividend Reinvestment Plan.

How can shareholders participate in BMO's Dividend Reinvestment Plan?

Shareholders must submit Enrollment Forms to Computershare Trust Company of Canada by May 2, 2023.