TORONTO, Dec. 1, 2023
/PRNewswire/ - Bank of Montreal
(TSX: BMO) (NYSE: BMO) today announced that its Board of Directors
declared a quarterly dividend of $1.51 per share on paid-up common shares of Bank
of Montreal for the first quarter
of fiscal year 2024 ("Q1 2024 Dividend"), a 4 cent, or 3 per cent, increase from the prior
quarter, up 6 per cent from the 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;
- $0.426 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 27, 2024, to shareholders of record on
January 30, 2024. The dividends
on the preferred shares are payable on February 26, 2024, to shareholders of record on
January 30, 2024.
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 Q1 2024
Dividend. For registered shareholders who wish to participate
in the Plan and thereby receive the two percent discount in respect
of the Q1 2024 Dividend, Enrolment Forms must be received by the
Bank's transfer agent, Computershare Trust Company of Canada, by the close of business on
February 1, 2024. 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:
Dividend Reinvestment Plan
Internet: www.bmo.com Twitter:
@BMOmedia
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content:https://www.prnewswire.com/news-releases/bmo-financial-group-increases-common-share-dividend-by-4-cents-from-the-prior-quarter-up-6-per-cent-from-the-prior-year-302003186.html
SOURCE BMO Financial Group
