BMO Financial Group Increases Common Share Dividend by 27 cents from the prior quarter, up 25 per cent from the prior quarter and prior year

Rhea-AI Summary

Bank of Montreal (TSX: BMO) has declared a quarterly dividend of $1.33 per share, marking a 27 cent increase from the previous quarter and a 25% rise from the prior year. The Q1 2022 Dividend is payable on February 28, 2022, to shareholders of record on February 1, 2022. Additionally, dividends have also been set for various Class B Preferred Shares, with payment dates on February 25, 2022. These dividends are designated as "eligible" under the Income Tax Act (Canada).

Positive

• Common share dividend increased by 27 cents to $1.33, indicating strong financial performance.
• Dividends on preferred shares also announced, enhancing returns for preferred shareholders.

Negative

• None.

TORONTO, Dec. 3, 2021 /PRNewswire/ - Bank of Montreal (TSX: BMO) (NYSE: BMO) today announced that its Board of Directors declared a quarterly dividend of $1.33 per share on paid-up common shares of Bank of Montreal for the first quarter of fiscal year 2022 ("Q1 2022 Dividend"), a 27 cent increase from the previous quarter and up 25 per cent from the prior quarter and prior year.

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 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 28, 2022, to shareholders of record on February 1, 2022. The dividends on the preferred shares are payable on February 25, 2022, to shareholders of record on February 1, 2022.

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 2022 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, 2022. 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

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SOURCE BMO Financial Group

FAQ

What is the dividend amount for BMO common shares for Q1 2022?

The dividend amount is $1.33 per share for Q1 2022.

When will BMO's Q1 2022 dividend be paid?

The Q1 2022 dividend will be paid on February 28, 2022.

What is the record date for BMO's common share dividend?

The record date for the common share dividend is February 1, 2022.

What are the details for BMO's preferred share dividends?

Various dividends were declared for Class B Preferred Shares, payable on February 25, 2022, to shareholders of record on February 1, 2022.