Bank of Montreal (BMO) Raises Dividend to $0.73 Per Share
Bank of Montreal (NYSE:BMO) (TSE:BMO) announced a quarterly dividend on Tuesday, December 5th, Zacks reports. Investors of record on Thursday, February 1st will be paid a dividend of 0.733 per share by the bank on Tuesday, February 27th. This represents a $2.93 annualized dividend and a dividend yield of 3.76%. The ex-dividend date of this dividend is Wednesday, January 31st. This is a boost from Bank of Montreal’s previous quarterly dividend of $0.72.
Bank of Montreal has decreased its dividend by an average of 4.0% per year over the last three years. Bank of Montreal has a payout ratio of 43.9% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Bank of Montreal to earn $6.66 per share next year, which means the company should continue to be able to cover its $2.79 annual dividend with an expected future payout ratio of 41.9%.
Shares of Bank of Montreal (NYSE BMO) traded down $0.23 during trading hours on Wednesday, reaching $78.05. The company’s stock had a trading volume of 540,200 shares, compared to its average volume of 425,200. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.13. The stock has a market cap of $50,803.72, a PE ratio of 12.44, a P/E/G ratio of 2.19 and a beta of 1.06. Bank of Montreal has a 12 month low of $66.75 and a 12 month high of $79.02.
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Bank of Montreal Company Profile
Bank of Montreal (the Bank) is a financial services provider. The Bank provides a range of personal and commercial banking, wealth management and investment banking products and services. The Bank conducts its business through three operating groups: Personal and Commercial Banking (P&C), Wealth Management and BMO Capital Markets.
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