Bank of Montreal Keeps Dividend Steady at $0.74

Before you go, we thought you'd like these...
Before you go close icon

Bank of Montreal  announced yesterday its third-quarter dividend of $0.74 per share, the same rate it paid last quarter.

The board of directors said the quarterly dividend is payable on Aug. 27 to the holders of record at the close of business on Aug. 1. BMO Financial Group is reportedly the longest-running dividend-paying company in Canada with a policy to pay out 40% to 50% of its earnings over time.

Additionally the board declared dividends for eight series of Class B preferred shares as follows:

  • $0.28125 a share for Series 13
  • $0.328125 a share for Series 14
  • $0.3625 a share for Series 15
  • $0.325 a share for Series 16
  • $0.40625 a share for Series 18
  • $0.40625 a share for Series 21
  • $0.3375 a share for Series 23
  • $0.24375 a share for Series 25

The dividends on the preferred shares are payable on Aug. 26 to shareholders of record on Aug. 1.

The regular dividend payment equates to a $2.96-per-share annual dividend, yielding 4.9% based on the closing price of BMO's stock on May 29.

link

The article Bank of Montreal Keeps Dividend Steady at $0.74 originally appeared on Fool.com.

Fool contributor Rich Duprey has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.

Read Full Story

Want more news like this?

Sign up for Finance Report by AOL and get everything from business news to personal finance tips delivered directly to your inbox daily!

Subscribe to our other newsletters

Emails may offer personalized content or ads. Learn more. You may unsubscribe any time.

From Our Partners