Bank Of Montreal (NYSE:BMO) Announces Quarterly Dividend of C$1.71

Bank Of Montreal (NYSE:BMO) (TSE:BMO) announced a quarterly dividend on Wednesday, May 27th. Stockholders of record on Thursday, July 30th will be given a dividend of 1.71 per share by the bank on Wednesday, August 26th. This represents a c) dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date of this dividend is Thursday, July 30th. This is a 2.4% increase from Bank Of Montreal’s previous quarterly dividend of $1.67.

Bank Of Montreal has increased its dividend payment by an average of 0.1%annually over the last three years and has raised its dividend every year for the last 4 years. Bank Of Montreal has a dividend payout ratio of 51.9% meaning its dividend is sufficiently covered by earnings. Research analysts expect Bank Of Montreal to earn $13.34 per share next year, which means the company should continue to be able to cover its $4.80 annual dividend with an expected future payout ratio of 36.0%.

Bank Of Montreal Stock Up 0.8%

Shares of Bank Of Montreal stock traded up $1.24 during trading hours on Wednesday, reaching $163.08. 966,376 shares of the company were exchanged, compared to its average volume of 837,930. Bank Of Montreal has a 1 year low of $104.08 and a 1 year high of $163.44. The stock’s fifty day moving average is $146.69 and its 200 day moving average is $138.45. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.02 and a current ratio of 1.02. The firm has a market cap of $114.30 billion, a PE ratio of 18.94, a PEG ratio of 0.91 and a beta of 0.94.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last posted its quarterly earnings data on Wednesday, February 25th. The bank reported $2.51 earnings per share for the quarter, topping analysts’ consensus estimates of $2.35 by $0.16. The business had revenue of $7.21 billion for the quarter, compared to analyst estimates of $6.73 billion. Bank Of Montreal had a return on equity of 12.16% and a net margin of 11.76%.The company’s revenue was up 6.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.04 earnings per share. As a group, equities research analysts forecast that Bank Of Montreal will post 11.56 earnings per share for the current year.

About Bank Of Montreal

Bank of Montreal (NYSE:BMO), commonly known as BMO Financial Group, is one of Canada’s largest and longest-established banks. Founded in Montreal and headquartered in Montreal, Quebec, the bank provides a broad range of financial services to retail, commercial, corporate and institutional clients. BMO is publicly listed in both Canada and the United States and operates under a consolidated financial services model that integrates banking, capital markets, wealth management and asset management activities.

BMO’s core businesses include personal and commercial banking—offering checking and savings accounts, lending, mortgages, and small-business services—alongside wealth management and private banking through its asset and investment management divisions.