BMO Increases Common Share Dividend by 4 Cents, Up 5% Annually
BMO sits 62% above its 52-week low of $102.7.
Summary
Bank of Montreal announced a quarterly common share dividend increase of 4 cents to $1.71 per share, representing a 5% increase from the prior year. This follows the company's recent strategic sale of its Transportation Finance and Vendor Finance businesses for C$14.5 billion, as disclosed in a May 11th 6-K filing. The dividend hike signals management's confidence in the bank's financial health and commitment to returning capital to shareholders, especially after a significant asset divestiture.
At the time of this announcement, BMO was trading at $165.87 on NYSE in the Finance sector, with a market capitalization of approximately $114.3B. The 52-week trading range was $102.70 to $163.12. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: PR Newswire.