BMO Financial Group Declares Dividends

Rhea-AI Summary

Bank of Montreal (TSX: BMO) has declared a quarterly dividend of $1.06 per common share for Q1 2021, maintaining the same rate as the previous quarter and year. Additionally, preferred share dividends have been declared, with varying amounts per series. The common dividend is payable on February 26, 2021, to shareholders of record on February 1, 2021. All declared dividends are designated as "eligible" under Canada’s Income Tax Act. Shareholders can reinvest dividends through the Bank's Dividend Reinvestment Plan.

Positive

• Quarterly dividend of $1.06 per common share is unchanged, indicating stability.
• Preference shares dividends reflect a commitment to shareholder returns.

Negative

• None.

TORONTO, Dec. 1, 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 first quarter of fiscal year 2021 ("Q1 2021 Dividend"), unchanged from the previous quarter and the prior year.

The Board of Directors also declared dividends of:

• $0.112813 per share on paid-up Class B Preferred Shares Series 25;
• $0.078011 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;
• $0.303125 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 February 26, 2021, to shareholders of record on February 1, 2021. The dividends on the preferred shares are payable on February 25, 2021, to shareholders of record on February 1, 2021.

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 Q1 2021 Dividend declared today and subsequently until further notice, such additional common shares 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 February 3, 2021. 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

View original content:http://www.prnewswire.com/news-releases/bmo-financial-group-declares-dividends-301182371.html

SOURCE BMO Financial Group

FAQ

What is the dividend amount declared by BMO for Q1 2021?

BMO declared a quarterly dividend of $1.06 per common share for Q1 2021.

When is the dividend for BMO common shares payable?

The dividend for BMO common shares is payable on February 26, 2021.

What is the record date for BMO's Q1 2021 dividend?

The record date for the Q1 2021 dividend is February 1, 2021.

Are BMO's dividends eligible for tax benefits?

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

Can BMO shareholders reinvest their dividends?

Yes, shareholders can reinvest their cash dividends through the Bank's Dividend Reinvestment Plan.