BMO Raises Dividend

Hello everyone hope you are doing great. Today’s post is about another raise I received from one of my stocks. On December 6th Bank of Montreal (BMO) raised their dividend again 🙂

Established in 1817, BMO Financial Group is a highly diversified financial services provider based in North America. With total assets of $688 billion as of October 31, 2016 and over 45,000 employees, BMO provides a broad range of retail banking, wealth management and investment banking products and services to more than 12 million customers and conducts business through three operating groups: Personal and Commercial Banking, Wealth Management and BMO Capital Markets.

We serve Canadian clients through BMO Bank of Montreal^®, our personal and commercial banking business, BMO Nesbitt Burns^®*, one of Canada’s leading wealth management firms, and BMO Capital Markets^TM, our North American investment and corporate banking division.

In the United States, clients are served through BMO Harris Bank, a major U.S. Midwest personal and commercial bank, and BMO Private Bank, with wealth management offices across the United States, as well as BMO Capital Markets^TM, our North American investment and corporate banking division.

(Source: Bank of Montreal website)

On December 6th after easily beating fourth quarter earnings Bank of Montreal announced a 2.3% increased to their dividend. The bank pays a quarterly dividend of $0.86 now with the increase it will be $0.88.

I currently own 71 shares and this is the 5th increase I have received this purchasing shares in 2014.

With the dividend raise my forward income will increase by $5.68.

Congratulations to all the other BMO shareholders.

Thanks for reading

Matthew

Advertisements